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What has changed Sandler&#39s mind?

I do wish he would make up his mind. You report this week that Ron Sandler has suggested that IFAs will be among the primary distribution channel for the new suite of stakeholder products.

He seems to have forgotten that just three months ago he excluded IFAs by omission.

10.47 page 185 of the Medium and Long-Term Retail Savings in the UK A Review lists high-street banks, direct promotion supported by call centres, new channels such as supermarkets and the Post Office and even that stakeholder products might be sold by employers. But no mention at all of IFAs.

We need to be told what has changed Sandler&#39s mind. I am not objecting, of course. Every one knows that it is the IFA sector which has been the most successful distribution channel for financial services and will continue to be so in the future.

Perhaps Sandler has woken up to the fact that decision trees are not a solution to the UK savings gap. All we need now is for him and the Treasury to stop interfering with financial services and let us get on with the job that we are well equipped to do, that of encouraging people to save for the future.

Nick Bamford

Managing director,

Informed Choice,

Cranleigh, Surrey


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