Dymott's Digest: cut out the complexity

Breaking news: financial services is a complex industry. The myriad products, charging structures and means of accessing these services is complicated enough – let alone the fact that consumers seem reluctant to engage with savings products at all. Mark Hoban, the former financial secretary to the Treasury, who initiated the Sergeant Review of Simple Financial Products, said there is too much choice in the market, resulting in a “barrier” to consumers taking control of their finances. I think this is hard to argue with, but I wonder if the desire for simplification goes far enough....