IFAs 'best placed' to improve consumer education

In response to the FSA's recent discussion paper on consumer responsibility, Skandia welcomes the proposals, and says understanding personal attitudes to financial risk is the most important aspect of the proposed reforms. The paper, first announced at the Retail Distribution Review conference in London, seeks to define the responsibilities of both firms and customers when transacting an advised investment product. It also examines how the FSA's financial capability programme can be used to equip consumers with the knowledge needed to take on these responsibilities. Skandia says IFAs ...