What are your thoughts on Thoresen's Generic Financial Advice interim review, particularly regarding the news that it could cost the Government and the industry anywhere between £40m and £80m? Do you think protection will be overshadowed by other products such as pensions and mortgages?
Phil Hull, Sesame Any initiative that makes financial products available to a wider audience has to be applauded. In this respect Thoresen's review is a positive step. It is an opportunity to educate and empower the public with key financial information, thereby providing a springboard for consumers to seek professional advisers to assist them with practical solutions to their real financial needs. The overarching problem is the cost and how it will be funded. Unfortunately, it is those disenfranchised people who are most in need of financial advice that are the least likely to be able...
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