Aifa criticises FSA's with-profits findings

Aifa has accused the FSA of unfairly singling out IFAs in its with-profits research. Chris Cummi...

Aifa has accused the FSA of unfairly singling out IFAs in its with-profits research. Chris Cummings, director general of Aifa, said the regulator’s research has not examined the industry as a whole and failed to examine direct sales forces or bancassurers. “Many of the conclusions reached are based on opinions, not fact. The questions in this research are leading and do not lead to balanced research. We would challenge some of the key findings of the FSA, particularly those on the reluctance of IFAs to give advice on with profits because we believe that the methodology of their research...