David Elms comments on the Government's proposed generic advice service (Trade)
David Elms, Chief Executive of unbiased.co.uk, comments on the Government’s proposed generic advice service (consumer version):Commenting on the Government’s proposed generic advice service, David Elms, Chief Executive of unbiased.co.uk, the website that promotes the benefits of independent financial advice said: “We’ve long recognised the importance of financial advice for all members of society. Individuals are being asked to take on increasing responsibility for their own financial futures, and many of them simply aren’t equipped to do so alone. Whilst independent financial advice is, and must remain, the standard against which other forms of advice are judged in today’s tightly regulated world independent financial advice is expensive to deliver. Adequately funded generic financial advice, with appropriate safeguards, has the potential to help those people who aren’t catered for by existing forms of advice lay down some firm financial foundations for their lives. Many of them might, over time, build on those foundations to become customers of IFAs."
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For expert comment or case studies from over 200 media-friendly IFAs, journalists should call unbiased.co.uk’s Media Services hotline on 020 7294 3682 or search online at www.unbiased.co.uk/media
1. Independent Financial Adviser Promotion
Unbiased.co.uk is the consumer brand of IFA Promotion, the organisation established in 1989 to promote the value and accessibility of independent financial advice to the public. It represents around 9,000 firms of independent financial advisers across the UK, incorporating over 17,000 registered individuals. These individuals hold over 20,000 incremental qualifications which are each individually verified by the awarding body. IFA Promotion welcomes the prominent display of incremental qualifications and further developments into the credentials of independent financial advice.
IFA Promotion is sponsored by 31 leading financial institutions, and in the past 12 months, over 600,000 consumers and businesses used unbiased.co.uk to find local independent financial advice.
IFA Promotion believes Independent financial advice should be:
- Affordable. The option to take independent financial advice should be available, by right, to all- not just the wealthiest in society.
- Convenient. IFAs should be available in the location of the consumer’s choice, wherever they live in the UK.
- Transparent. It must be clearly transparent to consumers who is able to offer independent financial advice and who is not.
2. Independent Financial Adviser Promotion’s sponsors
Aberdeen Asset Management
Lincoln Financial Group
Abbey
Mortgage Express
AEGON Scottish Equitable Plc
National Savings & Investments
Alliance Trust
NatWest Business Banking
AXA Life
New Star Investment Funds
Bright Grey
Norwich Union Life
BUPA Health Services
Prudential
Canada Life Ltd
Scottish Life
The Children’s Mutual
Scottish Life International
Clerical Medical Investment
Scottish Widows Plc
Defaqto
Skandia UK Group
Friends Provident
Standard Life Assurance Company
GE Life
UnumProvident
INVESCO Fund Managers Ltd
Webline Limited
Legal & General
Zurich Intermediary Group
London Mortgage Company