AIFA slams 'flawed' FSA with-profits study

Research by the regulator, included in its Insurance Sector Briefing out yesterday, suggests, among other things, that advisers are reluctant to give advice on with-profits. But Chris Cummings, director general of AIFA, says AIFA research on the same topic produced, in places, starkly different results. He says whereas the FSA only asked advisers what they thought their peers were doing, AIFA asked what advice they had actually given consumers. Cummings says: “[The FSA’s] research has not examined the industry as a whole and unfairly singles out IFAs. “It fails to examine direct sales f...