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IFAP produces consumer guides to key facts

IFA Promotion is issuing a factsheet through its website explaining key facts disclosure documents to consumers.

The sheet explains how consumers can use the mandatory information covered in the two documents – About our Services and About the cost of our services. It clarifies the status of financial advisers and looks at how consumers can use the menu as a tool to discuss and compare value of advice.

IFAP chief executive David Elms says: Advice-seekers have been faced with these Key Facts documents since the far-reaching reforms to financial advice took effect last June. They were designed to make the process of identifying different types of adviser and their payment options simple and up-front, but they can often stretch to several pages. We believe people need to understand what they are and how to use them before they see an adviser.

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