FSA proposes simplifying financial service sales role
A financial services sales job will be clearly distinguished from financial services adviser role under new proposals from the Financial Services Authority (FSA).
As part of its Retail Distribution Review (RDR), the FSA has decided that the best way to ensure customers get the best deals and information is to make sure advice is independent of sales.
This could change the conditions of sales recruitment for firms whose business relies on a blurred line between strict sales and advice.
But according to the FSA's head of RDR, Amanda Bowe, it is paramount that consumers trust what they are being told by those in sales jobs, suggesting sales recruitment will need to adapt to suit these new needs.
"We think a simple landscape is important if consumers are to understand the industry and have trust and confidence in those they are dealing with," she said.
However, she also notes that the RDR Interim Report indicates a need to ensure that the changes to sales jobs will remain "economically viable" for businesses.
Filed: 30-04-2008
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