Wording important in selling CP121 ideas says AIFA

Paul Smee, director general of the Association of Independent Financial Advisers says the association stands behind the idea of a tier of advisers focused on basic advice for lower income earners, but today added that he would like to see some tweaks to the relevant proposals put forward in CP121. The "second tier" financial advisers identified in CP121 should be reclassified by the FSA as practitioners of "focused advice" AIFA says, to avoid the stigma associated with the current description and to reflect the particular skills that those advising lower income earnings will have to t...