Fears new law will kill face to face financial advice marketing

Mon, 25 Jun 2012

June 25 (BusinessDesk) - Financial advisers fear the Financial Markets Conduct Bill will kill their ability to market directly to prospective customers by banning unsolicited meetings. The Institute of Finance Advisers has pleaded with the commerce select committee to change clause 71 of the proposed legislation, which prohibits the offer of financial products resulting from an unsought meeting with an adviser. “Clients do not in general contact an adviser,” the IFA says. “As it’s now proposed, no adviser would be able to approach any prospec...

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