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Money guidance must prompt consumer action, says CII

The money guidance model proposed in the Thoresen Review will work if the consumer is prompted to action, according to the CII Group.

The CII says that for money guidance to win public trust and confidence it must use clear language, encourage further action, have a robust system of accreditation and have clear protocols to link with regulated advice.

CII Group chief executive Sandy Scott says: “We have provided input into the recent generic financial advice prototypes and are pleased to see the commitment to extend the pilot. Money guidance will help address the reputational issues surrounding financial services as well as tackle long-term savings and protection gap.”


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The looming abolition of business assets taper relief is causing many business owners to contact their financial advisers to check if there is anything they should be doing ahead of April 6 to ensure that they do not “look back in anger” in the new tax year.The pre-Budget report has caused a few categories of […]

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There seems to be a common theme to the responses to the retail distribution review published by the recognised bodies. Most are calling for the creation of a new professional body to represent financial advisers. It is an idea that Tenet shares.

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