Unbiased.co.uk Welcomes FSA's Apparent Clarification of term 選ndependence' (Consumer and Trade)
6 August 2007
Unbiased.co.uk Welcomes FSA's Apparent Clarification of term 選ndependence' (Consumer and Trade)
- Financial Services Authority confirms that advisers will need to continue to look across the whole of the market to call themselves independent
Unbiased.co.uk, the find an independent financial adviser service, welcomes the announcement today by the Financial Services Authority (FSA) (Policy Statement 07/14) that the term ‘independence’ in the context of independent financial adviser (IFA) will apply to those advisers that look across the whole of the market.
David Elms, Chief Executive of Unbiased.co.uk comments: “This is a victory for common sense. Unbiased.co.uk welcomes the FSA’s apparent clarification that the term independent will only apply to those advisers offering the gold standard of advice by choosing the most appropriate product for their clients from the whole of the market. As an organisation that has a long track record of putting the consumer first, Unbiased.co.uk had grave concerns that proposals detailed in the FSA’s recent Retail Distribution Review, if implemented, would lead to more unnecessary consumer confusion.”
-ends-
For further information please contact:
|
David Elms |
Andy Smith |
|
Chief Executive |
Lansons Communications |
|
Unbiased.co.uk |
020 7294 3675 |
|
020 7833 3131 |
|
|
|
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
Methodology
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 28 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
Legal & General
Abbey
Lincoln Financial Group
AEGON Scottish Equitable Plc
Mortgage Express
Alliance Trust
National Savings & Investments
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
Tomorrow
Unum
Invesco Perpetual
Zurich Intermediary Group
Registered Office: IFA Promotion Ltd, 90 St. Vincent Street, Glasgow G2 5UB. Registered in Scotland: No. 114606
Post this article to:
del.icio.us
Digg
Newsvine
Reddit
Furl
MyYahoo!
Facebook
Read more press releases
