Only 16 per cent of advisers believe generic advice will improve the take-up of savings products.
Research by Unbiased.co.uk. shows that 24 per cent of IFAs believe generic adv-ice will lead to a decline in take-up of savings products and 61 per cent think that it will have no impact.
Unbiased.co.uk says IFAs welcome the apparent FSA U-turn on linking the word “independent” to remuneration methods rather than whole-of-market advice.
It says IFAs favour increasing the level of qualifica-tions among their profess-ion, with 74 per cent stating that it is important to hold incremental qualifications over and above the current benchmark.
Chief executive David Elms says: “We have seen a multitude of different views and opinions on the future shape of the UK financial advice market over the last six months.
“Looking forward, the debate needs to focus on the nitty-gritty of creating transparent payment options for consumers that apply on a level playing basis across all distribution types.”