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Press Release

Which? responds to Thoresen Review of Generic Financial Advice

22 October 2007

As Otto Thorensen reports on the creation of a generic advice service, Peter Vicary-Smith, Which? Chief Executive, says:

"I believe that the creation of simple-to-access advice on financial matters from trained staff would be the single most important contribution to improving the position of the UK consumer in financial matters.

"Part of the reason for a lack of engagement with the financial services industry is a debilitating lack of personal confidence felt by many people and a level of mistrust in the financial services industry to act in the real interests of the consumer.

“A generic advice service can help to bridge this gap and Which? will continue to offer our input and assistance to Otto as his work progresses."



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