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&#39Sandler must see value of IFAs&#39 – Bankhall

Bankhall support services group emphasises the distinction between independent and tied advice in its response to Sandler and calls on him to recognise the value of IFAs.

Bankhall describes an IFA as a “personal shopper” who resear-ches the whole market on behalf of the client, who recognises the value that this comprehensive service provides them.

The firm contradicts the perceived wisdom of the Government and regulators that consu-mers require more education, saying it is accurate information backed up by effective advice that is needed. Bankhall claims only the most sophisticated investors is able to assess the relevant importance of performance against charges, risk and features of the product wrapper, so this is where the IFA&#39s input is again vital.

It says the need of providers to gain the support of professional advisers for their products before they are presented to the investing public is the single most important factor in promoting competition and good value.

In response to Sand-ler&#39s question about whether branding would increase the volume of direct selling, it warns that this could have the adverse effect of confusing investors.

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