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Confusion and chaos will result says Aifa

The intention by the FSA to get rid of polarisation will cause chaos and confusion for consumers says Aifa chairman Lord Hunt of Wirral.

He warns the FSA is damaging the IFA sector in its efforts trying to solve the problem of tied agents only offering a limited range of products.

Wirral says: “It&#39s worrying that the FSA is trying to reform a cornerstone of consumer protection to solve the problem that tied agents can only offer a limited range of products. This will result in industry chaos and confusion for the consumer.”

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Consumers will be even more confused as to the status of the advice they are receiving if the FSA&#39s proposals on polarisation and commission are adopted, and IFAs may have to divide their businesses to survive.Jackson Batten Financial Group Managing director Robert Ratcliffe says: “IFAs will be considering dividing their businesses in two halves – […]

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