A third wave of testing into the basic advice regime filter questions suggests previous weaknesses in the handling of pensions and consumer debt have now been sufficiently ironed out, says the FSA.
That said, the Financial Services Authority admits it is treating its own research with caution, as the third wave of testing this time interviewed only 204 people, compared with around 500 people in the previous two tests, and qualitative testing was conducted on just 20 people to look at OPS questions. Details of the research conducted for PS 04/22 - following “wave 2”of filtered questioning - indicates consumers now better understand they may be better off repaying debts, rather than purchasing a savings products, thanks to the introduction of a worked example and a ‘ready reckoner’ w...
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