CII report stresses need for greater professionalism
An independent report commissioned by the Chartered Insurance Institute (CII) has shown that around 90% of its membership believe the future prosperity of the financial services industry depends on achieving parity with other professions such as accountants and lawyers.
CII director-general Sandy Scott, in response to the publication of the Financial Services Authority’s (FSA) publication of its discussion paper of the Retail Distribution Review, said that the industry must improve professionalism to tackle its reputational issues and instil a culture of trust for the consumer.
“Our members believe that - despite areas of best practice - the quality of financial advice and professional standards and competence must increase significantly,” he said.
“The FSA’s
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