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Bamford describes Menu requirements as premature in advice process

Informed Choice managing director Nick Bamford believes the Menu requirements announced yesterday fall “prematurely” in the advice process and believes it should come after an initial client consultation.

He says Informed Choice includes commission or fees disclosure in its engagement letter and then again in the key features document, describing its commission disclosure as “very robust”.

Bamford says: “I really wonder if the FSA understands the process the IFA goes through with a client. Although the Menu has positive virtues and will improve the relationship between clients and advisers I think that it comes in at the wrong stage of the consultation process with a client.”

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