The FSA's Retail Distribution Review (RDR) is confusing the concepts of ‘advice' and ‘information' to the ultimate detriment of consumers, John Gummer MP says.
Speaking at Sesame’s first annual Symposium conference, Gummer, chairman of the Association of Independent Financial Advisers (AIFA), says advice fulfils an important role, over and above that of information, in ensuring customers choose the right products to meet their needs and aspirations. Speaking at today’s conference, Gummer says: “In the RDR, the FSA is treating the word ‘advice’ as though it were interchangeable with ‘information’. I agree that we need to give people the widest possible access to information. “However, when it comes to choosing between two things that you have i...
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