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 their clients.
"Advisers are regulated and qualified and should be able to decide when and to whom they recommend such products."
The government says simple products should be similar in concept to the 'essentials' or 'basic' ranges offered in supermarkets.
The IMA says 'basic' would be a more approriate term for the products.
It says: "The term 'basic' highlights the focus on products which are fundamental ingredients to healthy personal financial management.
"Products with 'simple' outcomes are often the most complex in terms of their underlying structure."
Treasury financial secretary Mark Hoban said at the launch of the consultation in December the first products developed would likely be deposit savings and life and income protection (IP) insurance plans.
The IMA agreed with the Treasury's suggestion it would be difficult to include investment products because the costs, safeguards, risks and outcomes must be made clear.
But it said one danger of a simple products regime "is that people may shy away from investment simply because there are no 'basic' products on offer".
"Consumers may receive a distorted picture, with basic meaning 'good' and non-basic as correspondingly 'bad' or 'not worth considering'," it says.
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