ABI says full advice costs £670 and is 'beyond reach' of most

AIn a policy paper published today, the professional body also concludes full advice, encompassing a "comprehensive" assessment of a client's needs, will take an average of about eight hours per product. It has developed guiding principles for simplified advice and is calling on product providers and distributors to work with it and the FSA to develop a process for consumers. Simplified advice would meet "straightforward" consumer needs, the ABI says, through a "limited assessment" of their financial circumstances. It would be available via the internet, over-the-phone or face-to-f...