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On the FSA hitting out against the protection industry’s reaction to suggestions there could be some form of RDR read-across

Once again, we see the FSA placing the most negative interpretation possible on the general mindset of the intermediary market. Where is the evidence for such a conclusion? I have actually turned away business on occasions because the client had asked me to arrange cover which, upon a more detailed investigation into just what he had already, it turned out he didn’t actually need. With proper fact finding, I cannot envisage how any other quality IFA would feel able to come to any other conclusion and therefore make any other recommendation.

Julian Stevens

In 30 years of advising, I have never met a client who had too much insurance. The greatest consumer detriment is for a breadwinner to die underinsured. Where is the FSA evidence to back up their preposterous claims? Lesson one: protection is sold not bought and if advisers are not remunerated for the necessary sales work, people will not buy the cover. The FSA will then have succeeded creating a generation of poor widows and disabled people. They will be so proud.

Simon Webster, Facts & Figures Financial Planners

I am fed up with the FSA saying one thing and doing another (light-touch mortgage regulation, no read-across from RDR, supporting a healthy intermediary market, amongst many others). They twist every concept to suit their hidden agenda.

Stuart Duncan


Turner questions complexity

At the FSA’s financial capability conference in Cambridge, Lord Turner said “radical questions” need to be asked such as can there be too much innovation in some markets and are some products too complex to be sold to consumers at all.


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