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Contender for London mayor is backing IFAs

Liberal Democrat candidate for London mayor Susan Kramer has backed IFAs,

calling them ” a crucial part of the financial services sector”.

She claims IFAs are necessary to help individuals who do not have

investment expertise. Kramer made the comments in an interview with

MoneyMarketing while on the last week of campaigning in the race to become

the capital&#39s mayor.

Although whoever wins the mayor&#39s job will have little direct say in

financial matters, Kramer&#39s views are especially interesting because she

spent her career working in financial services in the US.

When she left Chicago to return home to the UK with her family she held

the title of vice-president of corporate finance at Citibank.

Kramer and her husband now operate their own venture capital firm that

invests primarily in developing economies in Eastern Europe.

Kramer says that when she went to seek financial advice she ensured that

the individual from whom she sought advice was genuinely independent and

not tied to any one company.

She says “If you do not have the time to do a lot of homework, having

someone there who is independent makes a huge difference. I feel much more

comfortable if an individual can look at a whole range of products before

they make a recommendation as to which is best for me.”

Aifa director general Paul Smee says of Kramer&#39s views of the IFA

industry, “I am delighted to have that endorsement.”

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