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&#39The focus should be on raising standards&#39

Re-establishing consumer trust is not a realistic goal and the focus needs to be on lifting standards, says Aegon corporate development director Laurie Edmans.

Speaking on consumer trust, he said the problems are not about re-establishing consumer trust, as that is something the industry has always struggled with because of the nature of the products it sells.

Edmans said the industry must stop making itself an easy target for criticism, with Raising Standards being a step in that direction, along with working with the Government and regulator in developing greater consumer understanding.

He said: “There cannot be a much worse time for me to be saying things like let&#39s improve our standards as there are no margins and the stockmarket is awful but even though this is a terrible time to start, how can we put it off?

He said he is perplexed by the impression that people have that advice is free when it is the most valuable thing that the industry does.

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