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Positive Solutions greets FSA vision

Positive Solutions has praised the FSA for recognising the importance of independent financial advice compared with other advice models.

Chief executive Jim Reeve says he welcomes the regulator’s strategic direction, set out in last week’s report, and congratulates the FSA for making a clear distinction between advice and sales.

He says: “A market that is easier to understand will improve consumer confidence both in the advice they receive and the products they buy.”

Positive Solutions says, as a whole of market, independent advice firm, it is greeting the interim report with open arms.

Reeve says: “The paper carries a strong endorsement for the value of whole of market/IFA advice, the very model that Positive Solutions wholeheartedly embraces.”

He adds that the need for improved qualifications and professional standards, highlighted in the interim report, was a key reason for Positive Solutions launching its Learning Academy.

He also welcomes the range of adviser remuneration options mentioned in the paper, saying the proposals are far more realistic.

“As the FSA has identified, there are many questions and issues still to be resolved to implement their vision. In the months ahead we will continue to work with Aifa and the regulator to achieve the best possible result for our partners and their clients.”

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