Speaking at a fringe breakfast meeting at the Labour party conference today Otto Thoresen, chief executive at Aegon UK, says: “Recent market turbulence means the need for clear financial advice has never been more acute. People from all walks of life are looking for advice, help and guidance to calm their fears and address their concerns.”
“It’s time to put advice on the policy agenda and make wider access to professional financial advice a key part of the government’s response to the current crisis. This is something that is now urgent, as well as important.”
Thoresen says the Financial Services Authority also has a role to play in encouraging alternative advice solutions through its Retail Distribution Review.
He adds that the government, financial services sector and the FSA should all commit to a reviewing progress early next year.