FSA menu "attempts to do too much" - Friends Provident

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The Financial Services Authority is attempting to achieve too much in one go through the depolarisation menu, suggests life insurer Friends Provident.

Although the Menu is an improvement on the Defined Payment Scheme (DPS), argues Friends Provident, the document is unlikely to meet the expectations of the FSA as attempts to boost consumer ‘shopping’ are "unreasonably high", says Graham Harvey, director of marketing at Friends Provident. “Using the Menu as a tool to help address product and provider bias is a sensible approach. However, the Menu has limitations and its ability to get consumers to ‘shop around’ is one of them. “We need to try and focus our efforts on improving consumer confidence in the industry and in getting consume...

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