Money News
Consumer confidence and consumer choice are paramount, says leading online independent financial adviser, Moneyextra.com, welcoming the Resolution Foundation's recommendation for a voluntary code of practice for online financial services comparison websites.
A code of practice would underpin the industry's commitment to providing consumer choice and increase consumer confidence in using sites like Moneyextra.com.
Clive Cowdery, Chairman of the Resolution Foundation said, "Comparison sites are valuable in making informed financial decisions." The Foundation is calling for a voluntary code of practice to build on the industry's strengths and address weaknesses identified by its research.
Robin Amlôt, Senior Editor of Moneyextra.com, said, "AWD Moneyextra, which operates Moneyextra.com, is an authorised and regulated independent financial adviser under the Financial Services Authority (FSA). As such we are fully committed to the FSA's principle of 'Treating Customers Fairly'.
"We believe that an online code of practice will offer consumers greater confidence in their use of financial comparison sites. We are confident that the quality of our services will more than meet the requirements such a code would include.
"Recent turmoil in the financial markets, the Northern Rock debacle, and issues surrounding consumer debt, underline not only the need for easily-accessible financial services but also demonstrate the importance of increasing consumer understanding and knowledge about financial products.
"Moneyextra is committed to helping consumers understand fully the consequences of their financial decisions and providing them with the knowledge on which to base those financial decisions."
11 October 2007 © Moneyextra.com
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