E&Y urges tied and multi-tied advice ahead of next RDR report in October
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Ernst
& Young (E&Y) urges product providers and banks to press the FSA for
tied and multi-tied advice ahead of the next RDR report in October.
Shaun Crawford, Ernst & Young insurance leader, said providers and
advisors alike must find a viable way to provide advice to the mass market.
‘It is clear that a section of society needs to be pushed rather than guided
into buying protection and long-term savings products and this should start from
the focus of consumer need,’ he told the MoneyMarketing magazine.
‘This is the big unanswered question within the RDR interim review and it
will require a lot of work from providers, and particularly banks over the next
few months, to convince the FSA that there is a real need for tied or multi-tied
advice. The FSA now urgently needs solutions from the industry and not questions
and challenges.’
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