Basic advice: FSA proposes single brand at point of sale

One area in which there will be changes to the proposed basic advice regime on simplified products is the Initial Disclosure Document, although there will not be a separate IDD for stakeholder products, as the regulator believes it is more in consumers’ interests to have a standard document for all types of products, which will gain increased consumer recognition over time. The standard IDD will also enable the adviser to ensure the consumer is aware of the “limited nature of basic advice” relative to the costs of the advice being given. This ties in to the question of excluding basic...