Stop talking 'Versus' to consumers on advice - TPAS chief

On PIMFA conference panel

Victoria McKeever
clock • 2 min read

To encourage consumer engagement in financial advice, the financial services sector needs to stop using 'versus' terms to compare already complex parts of the market, TPAS's Michelle Cracknell has said.

Speaking on a panel at the Personal Investment Management & Financial Advice Association (PIMFA) summit about the challenges to financial advice, the Pensions Advisory Service (TPAS) chief executive said: "The one area, as an industry, I would love to see us change is to stop talking in ‘Versus'. "All the time we talk about ‘active v passive', ‘guidance v advice', ‘IFA v restricted adviser' - that is what the consumer hears and they think, 'Whoa I give up'," she said. With more than 50 pension products on the market, Cracknell said this would be one avenue towards simplifying the fina...

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