Financial Services Authority (FSA) rules on consumer protection are making simplified advice difficult for advisers, it has been reported. That is according to the Association of British Insurers (ABI), which believes a more relaxed approach to such rules is required to make simplified advice possible, City Wire revealed. During a Future of Distribution in Financial Services conference, industry players such as strategy and product development director at Avelo, Paul Yates, called on the FSA to respond to the issue. He said: “We have looked at simplified advice and it’s very difficult to make work.

“For example, if you look at whether to join the National Employment Savings Trust, on the simplified rules if the client has any debt it would look like you should tell them not to join,” the news provider quoted. He highlighted the problem that consumers could be in....Read more here--- Consumer protection ‘compromising’ simplified advice