The chair of the Financial Services Consumer Panel (FSCP) has said the FSA's two-page consumer guide to the Retail Distribution Review (RDR) does not go far enough to explain upcoming changes to financial advice.
Published earlier today by the regulator, the guide represents its first proactive effort to communicate the outcomes of the Review to the public. However, FSCP chair Adam Phillips said the FSA had missed an opportunity to provide a more comprehensive summary of the reforms. "I would have preferred to see something more extensive," he said. "Consumers who are already working with a financial adviser may want a more independent view than what the adviser is telling them, and that takes more than two sides of A4. "I would have also thought advisers themselves might have welcomed a do...
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