The Financial Services Authority (FSA) has published a new guide to help consumers understand key improvements to the way they receive financial advice.
From 2013 onwards, savers and investors will be told how much financial advice costs, will understand the type of service they are paying for, and will benefit from a higher level of professional standards from their advisers.
At the heart of this initiative is ensuring customers know how much financial advice costs and that the service provided does ‘what it says on the tin’. These improvements will allow consumers to have confidence in the financial advice they receive.
The FSA has also launched a new section of its website (www.fsa.gov.uk/advicechanges) for consumers to find out more about what the upcoming changes will mean for them.
The new guide incorporates the feedback of leading consumer groups and industry trade bodies. It is available at local branches of the Citizens Advice Bureau, across the UK.
