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FSA consumer body calls for Government to fund advice service

The Financial Services Consumer Panel is calling on the industry and Government to fund a central advice service to point lower income earners to safe haven products. The Panel is telling the Government and the FSA that only a centrally funded free financial planning service can offer financial advice to all. It wants the cost of the free central service to be split between Government, which would benefit from the reduction of the savings gap, and the industry, which would see savings in the cost of fact-finds and increased consumer demand.

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