The public's trust in financial advisers should be used to rebuild confidence in financial services,...
The public's trust in financial advisers should be used to rebuild confidence in financial services, the Association of Independent Financial Advisers (Aifa) has said. The trade body has released a policy paper outlining what it believes should be done in order to rebuild confidence.
The policy, entitled 'Restoring Trust in Financial Services: Building on that which works', accompanied a call by Chris Cummings, director general of Aifa, for the Financial Services Authority (FSA) to use the Retail Distribution Review (RDR) to build on the high level of trust in advisers by not introducing confusing labelling.
Cummings said: "It is a sad fact that just at the time when the UK public needs to have confidence in financial services, global economic events have shredded much of the trust we had in our largest financial services institutions.
"However, unlike all other parts of the sector, the public's trust and confidence in IFAs goes from strength to strength."
