View more on these topics

FSSC launches consultation on improving standards of generic advice

The Financial Services Skills Council is launching a consultation process seeking industry views on standards of people giving generic financial advice.

The FSSC will be approaching the FSA, consumer bodies and employers to improve standards as part of the FSAs National Strategy for Building Financial Capability, with the aim of reassuring consumers and providers on generic advice, which is not currently regulated.

Generic advice includes basic information such as how to open a bank account or how to allocate the distribution of ones investments.

FSSC standards and accreditation director Lucy Courtenay says: Consumers will grow to recognise that all providers working to the standards, regardless of their affiliations, will offer a common level of service, and that the generic financial advice process is not designed to sell them products and services.

Recommended

Hips to be mandatory from June 1, 2007

The compulsion date for home information packs has been confirmed as June 1, 2007 by the Government yesterday.Hips are being introduced to reform the home buying and selling process, and will become mandatory requirements from June 2007. The Government says 1m a day is wasted on failed transactions as buyers are currently spending hundreds of […]

Liv Vic group chief executive Malcolm Berryman steps down

Malcolm Berryman steps down as Liverpool Victoria’s chief executive after six years in office.Until a formal appointment can be made, chairman John Woolhouse has taken on the position of group chief executive in addition to his current role.Woolhouse says: “The board of directors thank Malcolm Berryman for his commitment and vigorous leadership in seeing Liverpool […]

The gift of enthusiasm

After a year in Australia at the tender age of 17, I did a psychology degree because I did not know what I wanted to do. I followed it immediately with an MBA in order to pursue my rowing ambitions in London. I left business school in 1983 knowing two things. First, I was unemployable […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment