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NU calls for soft loans to IFAs

Norwich Union has broadly welcomed the FSA&#39s CP121 proposals but sounded a note of caution saying it is essential that a substantial IFA sector is maintained.

It says providers should be allowed to make soft loans to IFAs as they adjust to a depolarised marketplace to help them through the transitional period.

It welcomes the defined payment system, but says there should be a no transaction, no fee option as well as improved disclosure to make it clear to the consumer what they are paying for.

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ABI warning about defined payment

The ABI has warned the introduction of the defined payment system could lead to a decrease in the number of IFAs. Other than its concerns over the funding model for IFAs, the trade body has welcomed the depolarisation proposals, saying more choice at the tied end of the market will mean greater choice and innovation […]

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