Advisers should be able to decide when and to whom they recommend 'simple' products, the IMA says.
The Treasury plans to develop a new category of financial products with standardised features and a possible price cap in a bid to attract consumers otherwise confused by the vast array of choice in the market. Although it will not prevent simple products being sold through advised channels, the government says that, given consumers' reliance on the Internet for research, it intends to focus on non-advised routes to market. But the IMA says in its response to the Treasury's consultation: "There is no reason why regulated advisers will not refer to basic products if they make sense for...
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