IFAs will benefit from generic advice - Balls

Speaking at the Resolution Foundation conference “Generic financial advice: From vision to reality”, Balls, the Economic Secretary to the Treasury, says he sees generic advice as providing a “first port of call” for consumers seeking help with managing their financial needs. He says: “I know that some of you have been concerned that a generic advice service might replace local, trusted, sources of money and debt advice. I would like to reassure you that I see generic advice as providing a first port of call." "For some, that will be enough. For others, more specialist help will be needed...