ABI welcomes polarisation reform

The Association of British Insurers says the FSA&#39s new proposals on polarisation announced today will lead to greater customer choice and improved information about financial advice.

Alan Woods, head of life and pensions at the ABI, says: “These proposals represent a sensible liberalisation of the market which will improve customer choice. It will also give consumers clearer information about the cost and nature of advice.

“We are pleased the FSA has abandoned its proposal for a defined payment system for IFAs and will consult instead on how a &#39menu&#39 card can be used to explain to customers their choice of how to pay for financial advice.”