This morning's publication of the Treasury Select Committee report into long-term savings confidence has challenged the financial services industry to develop a series of new initiatives in the hope it will boost consumer confidence in the long-term savings market.
What the report does not obviously show, however, is while much of the evidence presented to MPs at its oral meetings is included in the report, the approach many firms would see as common sense has been ignored or viewed as companies looking to protect their own interests. Details of its Restoring confidence in long-term savings report – compiled as a result of several months of written and oral evidence by financial services firms, IFA, trade bodies, consumer groups and regulatory officials – appear to be tipped very consciously in the direction of consumer interests rather than pickin...
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