RDR: Labeling could lead to customer confusion - ABI

In its response to today's RDR Consultation Paper, the ABI says the introduction of a new matrix of options such as independent advice, restricted advice, basic advice and streamlined advice sales was a "step backwards".  "Such labeling must have clear disclosure to customers about the limitations of any services provided.  There is a serious risk of customer confusion in the current proposed labeling," says ABI director of life and savings Maggie Craig.  "To ensure access is increased we also need clear guidance from the FSA and Financial Ombudsman Service about how they will treat d...