Advice and guidance needs 'clear distinction' - Skandia

Skandia welcomes the fact Otto Thoresen, chief executive of Aegon UK and the review’s author, has recommended not including ‘advice’ in the scheme's title but says it will confuse consumers if it does not explicitly disclose its services. Billy Mackay, head of marketing at Skandia, says: “The evidence that there is a gap in financial capability is indisputable, and so naturally initiatives such as the Thoresen review should be welcomed. "However the key challenge will be in the implementation, and ensuring that those that most need guidance are able to and do receive it. “Equally, it is ...