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&#39A step closer to offering public simpler products&#39 – Torquil Clark

Torquil Clark has welcomed Sandler&#39s positive vision, rec-ognising the benefits for consumers and the industry but advises caution on certain aspects of the review.

The IFA says the review takes the industry a step closer to offering simpler products for consumers but it describes British consumers&#39 knowledge of financial services as distressingly low.

It says there is an urgent need for additional resources for consumer education. It warns that the idea of unqualified individuals dispen sing advice could prove unworkable.

Managing director Don Clark says: “Largely, people do not save because they cannot afford to save and I do not see how Sandler&#39s suggestions change that fact one iota.”

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The Sandler and Pickering reports have been greeted with more or less universal acclaim – and rightly so. They are full of good common sense and, the sooner the basic proposals for simplification of both pensions and other savings products are implemented, the better.But in many respects they are both trying to solve a problem […]

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