The Treasury's move to introduce a standard, simplified, financial health check has been scrapped. In simple terms, the Treasury inspired 'Sandler Review' of financial services products suggesting a complete range of lower charging simplified policies also planned to introduce this new check.
The reason for withdrawal is that the Treasury believe that the 'health check' does not sit well with the suite of products that it is planning.Our viewFinancial Health Checks are important and everyone should review their financial position regularly.
However, creating a standardised decision tree so that people can advise themselves would be difficult to construct. A few sheets of paper or a small interactive website cannot possibly achieve this. Every person's financial situation along with their attitude towards risk and their future goals or plans are different.
is working on an automated interactive self learning financial adviser program and we are already at 2m permutations and we are only one third of the way through our project. Our advice model can only grow exponentially so it is welcome that the Treasury idea has been dropped.
If it is going to be done - it has to be done properly!
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