Standard Life welcomes polarisation proposals

Standard Life has welcomed the next stage of the depolarisation consultation process, the issuing of CP166 – Reforming polarisation: Removing the barriers to choice.

The life company believes the proposals outlined in the paper will facilitate better access to advice on suitable products and greater choice for consumers, and is pleased that the value of independent advice has been recognised.

Feilim Mackle, managing director of sales, says: “This is generally good news for IFAs and consumers. Removing the polarisation restrictions will not require any IFA firm to change their current business model of providing quality independent advice. Furthermore, increased choice for consumers is another small step in the right direction to help close the savings gap. However, there are many issues still to be clarified in CP166 and several important consultations to come, particularly on the menu card, Sandler products and the pensions simplification review.”