Why a tailored advice service would have fewer safeguards

The LIA has considered over time the issue of simplified products and a tailored advice regime. Our...

The LIA has considered over time the issue of simplified products and a tailored advice regime. Our general feeling is there are considerable dangers in providing an advice route with fewer safeguards than in the full advice regime. Although we would have a degree of confidence a simplified advice regime could be operated within currently authorised firms, the prospect of new firms specially setting up to offer only basic advice causes us considerable concern. Do we agree the basic advice regime proposed is a proportionate means of providing adequate consumer protection for those seeki...