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CA call to maintain status quo

The Consumers&#39 Association is calling for the status quo to be maintained

following the publication of the London Economics report on polarisation.

The CA says adding a third tier to the advisers&#39 spectrum, as suggested in

the report&#39s section on multi-ties, will add to consumers&#39 confusion.

The report says the term financial adviser should be slotted in between

independent financial adviser and tied agent although LE admits this would

mean strengthening disclosure.

One of the major industry criticisms of the report is that it failed to

consider the option of the status quo. There is no industrywide consensus

over whether the current situation needs to be altered but it is thought

the Treasury is leaning towards multi-ties.

The FSA is studying the report before making a recommendation to the Treasury.


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Investment View

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