Technology provider 1st Exchange has called for the industry to use plain language to ensure product information is jargon free and more accessible to consumers.
It follows research results which show that IFAs see protection policies as the least complex products but say more financial education and less jargon will increase consumer access. The survey from 1st Exchange revealed that 45% of polled advisers saw these factors as the biggest barrier for consumers. A third (34%) of IFAs indicated simpler product structures were required, while the remaining 21% said it would take better tax incentives from the Government to make financial services' products more appealing. When questioning advisers about the most inaccessible products on today...
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