A report that describes the IFA brand as "irretrievably damaged" has been criticised by adviser trade association, the IFA Centre, which said the report's target was "simply wrong".
Titled Put the Saver First and written by pensions analyst Michael Johnson on behalf of the Centre for Policy Studies, the report argued that the lack of savings culture was in part a result of widespread enmity towards the financial services industry caused by its underperformance. It concluded one way of addressing this would be for advisers to forget about 'advice' and focus instead on 'financial planning'. The IFA brand, Johnson argued has been "irretrievably damaged". But Jill Cardy, managing director of the IFA Centre, said in response: "For someone with 21 years in investment ...
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