Developing a simplified advice scheme "as fast as possible" and regulating product design are among five recommendations the Financial Services Consumer Panel (FSCP) says would improve consumer confidence in the industry.
FSCP chairman Adam Phillips was speaking at the Building Societies Association on 13 October. 1) Progress the development of simplified advice as fast as possible It would provide a source of product distribution to the kind of people who are expected to use the Money Guidance service. It will provide a route for people who have small amounts of money to save to get some advice and buy suitable products at a cost, which will ensure that the maximum amount of their money is directed into their savings. 2) We need to regulate product design to provide better products that can be d...
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