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Press Release

Which? welcomes new financial capability approach from the Treasury

15 January 2007

As the Treasury launches a new financial capability approach, Doug Taylor, personal finance campaigner, Which?, says:

“Which? welcomes the Government support for the creation of a generic financial advice solution.

“The combination of complex products and powerful marketing techniques in financial services can create difficulties for consumers.

“Which? has always said that offering generic financial advice is the key to letting consumers get the most out of the industry. This will go a long way to changing the relationship between business and consumer.

“There is an intrinsic lack of trust in financial services at the moment. Offering good quality, accurate but simple advice will empower consumers and with the advent of personal accounts this need is even stronger today.

“We look forward to the work of the taskforce and the creation of a new advice service.”



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