Skandia: Disclosure requirements for restricted advice not far enough

The FSA is proposing to make a distinction between independent and restricted advice and Skandia has said it agrees that short, one sentence descriptors that compliment these labels will help consumer understanding of the advice being provided. However, it believes the FSA should mandate a precise form of words that firms must use in their documentation to describe the services they provide in order to ensure consistency across different firms and deliver clarity for consumers. Consultation paper 09/18, Distribution of retail investments: Delivering the RDR, proposes that firms offeri...