AIFA calls for clear divide between sales and advice

A poll commissioned by AIFA found 81% consumers said it was important to know they were being sold a product or advised on one when visiting a bank, IFA, building society or life company. In AIFA’s latest report, Consumer Trust in Financial Services, the organisation calls for the FSA and the Treasury to make a clear distinction between sales and advice in the Retail Distribution Review (RDR) statement in October. The trade body believes a clear definition of sales and advice will help build consumer trust, and help many people to re-engage with financial services, creating better levels ...