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Aifa tells Tories access to advice is crucial

The Association of Independent Financial Advisers has warned that the Government and regulator must increase consumer access to trusted sources of advice, following yesterday’s Tory white paper.

AIFA director general Chris Cummings says: “The white paper on financial regulation raises a number of big questions for the industry. We will be scrutinising the paper closely to evaluate the proposals and the potential impact on the IFA community. Taken together with Government proposals, it is clear that the financial services industry is facing a great deal of change in the coming years. This is an inevitable reaction to recent events.

“We must be mindful that any proposals must increase consumer access to good, independent financial advice. IFAs are the most trusted of all financial services institutions. The Government and regulator must increase consumer access to trusted sources of advice and not restrict it.

“We look forward to seeing more detailed proposals and will continue to engage with all political parties to ensure the IFA profession is represented at the very highest level.”

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  1. Political footballs…..
    …or is it punch bags? The Tories agree that regulation as we know it is bust, always was. Their current proposals reflect the horrors that the public at large, myself included, have witnessed to date. When we look at the trail of collateral damage caused by inept regulators who didn’t see the dangers, chose not to see them or were told to turn a blind eye we have no confidence in the system whatsoever. If we have more change it should last longer than a decade and certainly longer than the time it takes a herd of regulators to produce yet another ‘discussion’ paper. After all is said and done ‘telling’ the Tories is not how it is done, You have to suggest things like ‘FSA burn it down’.

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