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Article: Focused advice is the saving grace: association of IFAs director general Paul Smee explains how focused advice could bring new blood into the industry. (Smee's View).(Brief Article)
- Article from:
- Money Marketing
- Article date:
- May 23, 2002
- Author:
CopyrightCOPYRIGHT 2002 Centaur Communications Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Why don't people save more? This appears to be the number-one question on some ministers' desks. Because they do not have enough money is the stunningly simple response.
Other responses are that they are pretty bored by the subject and, anyway, have little confidence in financial services' companies.
Because they are put off by the complexities of products and of getting advice is a third reply and a fourth reply is because there has been a remarkable reduction in the distribution capacity of the sector.
There is not much to be done about the first and the second is a long-term haul involving an educational effort aimed at those who do not use ...