AJ Bell has called for the regulator to conduct a "root and branch" review of sale disclosure documents, saying the current material was too complex and confusing for consumers.
In a letter to Financial Conduct Authority (FCA) director of strategy and competition Christopher Woolard, AJ Bell chief executive Andy Bell (pictured) said the current disclosure regime had "become so complex that it is confusing for consumers and is not helping them make informed decisions." As a result, this could lead to consumers ending up with products they do not understand or that are not the most suitable for them, he wrote. Bell argued that while the different disclosure documents had been the subject of individual reviews, looking at these "various elements in isolation is ...
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