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Aifa and ABI launch responsibilities guide

Aifa and the ABI have joined forces to publish a guide setting out the respective responsibilities of providers and advisers in the creation, design, delivery and after sale of products.
The move follows a recent FSA paper which focused on where the responsibility lies at the fault-line between distributors and providers.
Aifa director general Chris Cummings says: “Both advisers and providers should put their customer’s needs first. By setting out clearly who is responsible for particular aspects of the life cycle of financial products, this guide should help ensure that the customer emerges from this process with a positive experience of the financial services industry.”
ABI director of consumer strategy George Hodgson says: “By working together, the ABI and Aifa hope to improve the working relationships between providers and advisers and in turn, bring improvements in customers’ services across the long-term savings industry.”

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