Menu

Few changes are to be implemented from initial recommendations according to the overview section of today's Policy Statement on the menu options for advisers following depolarisation.

The Financial Services Authority has just published the final feedback and policy statement on financial advice depolarisation and implementation of the advice 'menu'.

Consumers might not bother to read the FSA's proposed depolarisation menu because it is "overly complex" and "too cluttered", warns the Association of IFAs.

The Life Insurance Association has proposed a new approach to the FSA's "depolarisation" pricing menu which would break down the cost of advice from product purchase and ongoing service.

Financial intermediaries are still struggling to establish whether the depolarisation ‘menu' will make a difference to their business, as an IFAonline poll reveals opinion is split.

Quay Software is in the final stages of developing pre-populated Key Facts Documents which will eventually include pre-populated commissions data for the payment menu.

Another IFA comment - following publication of the depolarisation menu - suggests some intermediaries welcome the move to introduce documents revealing the earnings from advice.

This latest comment from a fee-based IFA suggests consumers will be confused, rather than enlightened by the raft of FSA regulations hitting the financial services sector.

Financial intermediaries argue the FSA menu and the move towards fee-based doesn't fairly reflect the market that the Financial Services Authority regulates.

Most discussion about the "menu" has so far arisen from commission-based advisers, who will now have to reassess their working practices.