Some product providers have been reacting enthusiastically to FSA announcements made at its industry meeting on polarisation yesterday, when it indicated that multi-ties and the abolition of polarisation rules were unlikely.
Scottish Life head of communications Alasdair Buchanan says: “I rarely attend any meeting like that where there is such consistency in caution against unnecessary change, from consumer groups, IFAs, providers and the FSA. Taking it in conjunction with Ruth Kelly's earlier comments, this is one of the most positive weeks for IFAs in many years.”
Scottish Equitable business development manager Steven Cameron says: “Our view is that if this is what they actually are thinking then we are very pleased. We think this is a positive way forward and it avoids consumer detriment.”