Menu could attract new advice-hungry consumers

distribution

Whether depolarisation will help the Government achieve its aim of broadening access to advice will depend largely on whether banks can rise to the challenge and if multi-tied advisers can widen their client base

To plug the ever-growing savings gap, the FSA had to decide whether it was better to encourage people to buy products or buy advice. All of us in this industry know that consumers are reluctant to pay for advice, and with the introduction of depolarisation and the menu system, the FSA appears to have decided to opt for the former and make it easier for people to buy products. It is becoming apparent, perhaps ironically, that depolarisation will result in a much more fragmented advice market. Currently, there are only two options: you can be either a tied agent, which includes direct sal...