AIFA scornful of FSA with-profits conclusions

In a published briefing, the regulator suggested that some advisers are not providing sufficient ongoing advice for with-profits policyholders. The document also highlighted that after-sales communication documents for these and other life sector policyholders were of variable quality. However, Chris Cummings, director general of AIFA, said the FSA had not examined the industry as a whole and unfairly put the spotlight on IFAs. He added that the research failed to examine direct sales forces or bancassurers, and was therefore not an accurate assessment of the industry. Among the FSA¹s k...