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Simple solution welcomed – IMA

Sandler&#39s focus on simplicity and transparency has been given the nod of approval by the Investment Management Association.

Chief executive Richard Saunders says it has long advocated separating the cost of advice from the cost of the product and welcomes the improved adviser qualifications proposed in the review.

Saunders also singles out the recommendation to level the playing field between life and mutual fund products, particularly in pensions with the individual pension account.

However, the IMA warns not to lose sight of the importance of financial advice, which it says a big number of consumers both want and need.

He says: “The proposed stakeholder products will be an important addition to the array of choices open to consumers. We welcome the proposals to include a managed fund within them and look forward to working with the Government on developing the proposals further.”

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