'Menu' proposal adds to confusion - Selestia

clock

Latest Financial Services Authority proposals on the cost of advice menu will add to the confusion among consumers rather than clearing the fog it was initially set out to do, warns Selestia.

Warnings comes less than a week after the regulator published Consultation Paper 04/3 Reforming Polarisation: A menu for being open with consumers in the hope the amended 'menu' would make it a bit easier for consumers to understand what they are getting for their money. Brett Williams, managing director at Selestia, says: "It is hard to see what benefit if any last week's announcement by the FSA will have for either the adviser community or the consumer". He continues: "This additional bureaucracy, whilst demonstrating there is evidence of consumer confusion, does not come with any ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Starting young: Parents perfectly placed on financial education

Starting young: Parents perfectly placed on financial education

Maps developed a UK strategy for financial wellbeing

Jenna Brown
clock 18 April 2024 • 2 min read
UK inflation falls less than expected over March to 3.2%

UK inflation falls less than expected over March to 3.2%

Core inflation fell from 4.5% in February to 4.2%

clock 17 April 2024 • 2 min read
Financial implications to life events: What women need to consider

Financial implications to life events: What women need to consider

Divorce is an emotional process and advisers must adapt to client needs

Jenna Brown
clock 17 April 2024 • 3 min read