Commenting on this, AIFA's Director General, Paul Smee, said: "Not so long ago advice seemed to be regarded by some as an optional extra which could often be replaced by generic material. I am glad that there is evidence of a move away from this position.
"I am in no doubt that the availability and accessibility of advice will be a significant factor in the take up of the proposed Sandler suite of products. We have seen no evidence that the need for advice can be bypassed by simply regulating the product. Advice must accordingly be accommodated in these products and in any pricing structure.
"AIFA believes that the availability of advice, in a form acceptable to the consumer and without some of the heavy regulatory overlay which has grown up in recent years, is critical in bridging the savings gap. We see the concept of focused advice as offering the best and most stable means of spreading the reach of advice."
