AIFA has slammed the findings of an FSA investigation which singled out financial advisers for failing to treat fairly clients who had bought life insurance products.
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...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes