Labelling advisers will only confuse consumers - IMA

In a letter addressed to FSA RDR chief Amanda Bowe, the IMA notes reservations about the proposal for ‘primary advice’ and urges the regulator to reconsider the proposal. The IMA has provided a response to the three main areas of the RDR discussion paper which impact its members. It welcomes the FSA's desire for high professional standards, but is sceptical about labelling advisers according to the type of advice and service they offer. “This could actually have an adverse affect and cause confusion in a market where consumers already have a wide range of options available to them,” t...