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Consumers&#39 Association comes out against Weinberg

The Consumers&#39 Association has slammed Sir Mark Weinberg&#39s proposal for three-tiers of financial adviser saying it will only lead to more consumer confusion.


And it will deploy research showing that consumers are not prepared to pay for fee-only advice to strongly oppose any recommendation by the Office of Fair Trading to change the practice.


The OFT has confirmed that it will definitely be taking a position on the issue at the start of next year, although it is still uncertain whether it will underpin any recommendation with a report.


Consumers&#39 Association senior policy researcher Philip Telford says: &#34We certainly do not share the views put forward by Weinberg because we broadly support the concept of polarisation.&#34

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