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CA drafted to frontline against multi-ties

The Consumers&#39 Association is being drafted into the frontline in the IFAs&#39 battle against the introduction of multi-ties.

The FSA has commissioned a report into the future of polarisation and is taking submissions from across the industry, prompting IFA fears the Government plans to abandon the system.

Both Aifa and Sofa believe their bid to preserve the current system of full polarisation will be massively boosted by co-ordinating its work with the Consumers&#39 Association before making submissions.

They argue the CA is a “natural ally” and can help them make a far more convincing case to both the regulator and the Treasury when they argue the introduction of a third multi-tied level will confuse consumers.

Polarisation supporters are also taking heart from Zurich Financial Services IFA marketing operation Zifa pledging its full support.

Another leading member of the Zurich Group, Allied Dunbar chief executive Keith Baldwin has called for the introduction of multi-ties.

Sofa press spokesman Robert Reid says: “The best way to look at this is to ask if the introduction of multi-ties will be of benefit to the consumer.

“We will be looking to make a submission which makes references to the Consumers&#39 Association submission.”

Aifa director-general Paul Smee says: “There is a very good case to be made for polarisation and the Consumers&#39 Association is a natural ally.”

Consumers&#39 Association senior policy adviser Philip Telford says: “We will put a response in to the FSA and along the way we will be talking formally with Aifa and Sofa.”


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