Advisers reject FSA's 'lack of trust' claim

In the regulator's Financial Risk Outlook 2009, it claimed there was a long-running history of distrust in IFAs, which would deter people from seeking advice at a time when they need it most. The opening lines of the outlook's chapter on quality of advice say: "Low levels of consumer trust in financial advisers has been a long-running issue in the sector, partly driven by concerns over the quality of advice and service given to consumers in the past. "This is a significant concern as it could deter consumers from seeking advice, resulting in inadequate provision for their needs." AIF...