The FSA will need to produce specific guidance to adviser firms outlining how best to incorporate a guided sales channel into their business if it wants the scheme to work, Aegon warns.
Head of corporate affairs Francis McGee says the regulator will "need to be clear exactly" how guided sales differs from holistic advice, adding he believes the regulator has "underestimated" the level of encouragement firms will need to commit to it. In last November's RDR Feedback Statement, the regulator posited 'guided sales' as a means of opening up financial advice to the wider public. It described it as an "information-providing non-advised process that leads to some people choosing to buy a product". Research suggests more firms are considering adopting guided sales into their...
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