'No adviser wants to say he can't help '

The next step in developing a range of government-approved simple products began last week with the launch of a steering group, which includes the Association of British Insurers (ABI), Money Advice Service and British Bankers' Association. Its chairman, Carol Sergeant, the former head of risk at Lloyds TSB, said the products, which will initially comprise deposit savings and protection insurance, would operate on a non-advised basis only. However, she said advisers would still find a use for them. "If you are advising on a product, you have to be mindful of what the benchmark product...