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The simplified truth

Editor’s comment of the week

Online comment on FSA refusing to back down on simplified advice

Oh dear, I suspect the take-up of simplified advice by firms will be virtually nil. If you had a choice of developing simplified advice or refining focused advice (which already exists and has experience of being delivered), then why would you go simplified?

They both need QCF/L4, both have adviser charging, both have the same regulatory responsibility but focused advice is not as restrictive in how it is delivered.

With focused advice, you have the opportunity to be flexible and pragmatic with a client as everyone is slightly different, even with simple needs. Simplified may be very “efficient” but when it comes to dealing with real live people, how effective will it be?

I see focused advice combined with assisted non-advised services being the growth models, with poor old simplified being left on the shelf to gather dust.

There is a need for lower-wealth, good quality advice and support for the essentials of financial planning. I am interested to see who moves next to deliver it.

Well done, the FSA, for delivering exactly what nobody wanted and taking a lot of time to do it as well.

James Dean



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Trouble ahead - thumbnail

Pensions: trouble ahead?

The pace of change in the pension’s space has been little short of astonishing, and has left thousands of employers struggling to keep their pension policy compliant, and also on the right side of current best practice and governance. Many employers, and indeed many in the pensions industry itself, would like to see a period of no change during the next term of government. This would give all sides a chance to catch up and draw breath. 


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