IFAs say the proposals to abolish polarisation and introduce multities will only increase consumer confusion and serve to restrict choice.
The Bureaux director Ronnie Lymburn says: "This will only confuse consumers as their choice will not easily be understood. This does not make it easy for consumers to understand the varying levels of advice and the ways of paying for it."
Roberts Clark director Jo Roberts says :”Howard Davies should get down off his cloud and live in the real world. Implementing multi-ties will not reduce consumers' confusion, it will add to it.”