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A key reform stemming from the FSA’s review of retail investment distribution will be the step-change in the professional standards of those who advise and sell these products to consumers.
Meanwhile in the general insurance sector, over 200 firms, including most major insurers and brokers in the UK, have signed up to a commitment known as The Aldermanbury Declaration to raise professional standards at all levels across their staff. Why are regulators and firms suddenly taking staff professional standards so seriously? Will this make a difference for the end consumer?
Adam Phillips draws on his expertise in the financial services consumer movement to provide this personal perspective on these issues.