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Reforms will hit consumer access to financial advice says IFAP

IFAP has condemned the FSA&#39s polarisation reform proposals, saying they will exclude middle England from quality financial advice.

IFA Promotion chief executive David Elms says: “The FSA&#39s consultation paper is called &#39making the market work for consumers&#39 – quite simply, these proposals won&#39t make the advice market work for consumers What they will do is make it harder for middle England to find independent financial advice.

“Consumer research and consumer groups have consistently argued that independent financial advice is the best form of advice for consumers – but these proposals will, according to the FSA, lead to shrinkage of the sector.”

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