Generic advice won't be another specialist debt service - Thoresen

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Generic financial advice (GFA) will not duplicate specialist debt advice services says Otto Thoresen, author of the Thoresen Review of Generic Advice.

Speaking today at the ABI Saver Summity, Thoresen, chief executive of Aegon, said: "I am not interested in creating another specialist debt service." Instead, he says he wants the GFA service to help people take charge of their affairs before serious problems develop by referring people to existing debt advice companies and taking referrals from them. “It will be there to provide help and support so that when they have resolved their immediate financial crisis they do not relapse into the behaviour that caused it in the first place,” he adds. He says it is "feasible to build a nationa...

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