IFAs are responding positively to FSA announcements on its polarisation review, hailing a possible sea-change in opinions of IFAs.
Michael Both partner Michael Philips says: “This is an unexpectedly positive result. Perhaps the FSA is feeling a little bit sensible after being complete fools over Equitable Life. The Equitable debacle has drawn to everyone's attention how important it is to have a person independent of the insurance companies giving advice.”
Plan Invest Group managing director Michael Owen says: “The industry has been lobbying hard and the FSA has realised they risked confusing consumers further.”