Almost a third of consumers who recently purchased a product through an IFA were not given a key features document (KFD), or cannot recall receiving one, research commissioned by the FSA suggests.
The findings were based on interviews with more than 5,000 'recent purchasers' between April and June last year. The study also suggests that, of those who did receive a KFD, only 31% read it from beginning to end. A third said they only read the parts which they deemed the most important and 22% 'skimmed through it' without reading much of the detail. Matt Timmins, managing director of SimplyBiz, said there was a clear difference between being given a KFD and not reading or remembering it had been handed to you. "It's absolutely inevitable - they've got so much paperwork to rea...
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