Bankers Want Simplified Advice

Bankers Want Simplified Advice.

British Bankers Association (BBA) chief executive Angela Knight, has written to the chief executive of the FSA regarding the retail distribution review expressing concern that the advice will be written off as too time-consuming, complex and expensive by the people who need it most.  Her letter proposes more simplified advice would provide affordable and regulated advice to fill the gap.

Our View  - Well they would want simplified advice wouldn’t they? Given that all other financial advisers will have to agree a fee up front with their client and offer full advice, bankers are trying to avoid this and offer simple advice yet still be able to take full commissions.  Never trust a banker!

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