Ex-Lloyds adviser MP: IFA sales culture same as banks'

Chris Evans, MP for Islwyn, and a former Lloyds TSB personal account manager, made his comments during a committee debate on the Pensions Bill. When discussing the reform of workplace saving via auto-enrolment, he said the lack of pension saving in the UK is down to a "lack of independent financial advice". "If someone goes to a bank, it is likely to try to sell them the best product it can. If they go to an independent financial adviser, the adviser will do the same thing," said Evans. "They will think about the sale rather than the needs of the person in front of them". He tol...