QFEs like sales point for retail products
Mayhew said thinking around simplified advice is happening in the UK at the moment and he believes it would fit very neatly with the development of the QFE retail distribution model.
He says in the UK there a lot of work is being done under the heading of simplified advice, a term used to describe a streamlined advisory process under which personal recommendations are made to retail consumers in relation to a defined group of learned investment risk financial products.
He says a need for streamlined adviser processes in the UK reflects the wider public objective of encouraging retail consumers to save for their medium and long term financial needs, "which is the same problem we have in this country".
Mayhew says that simplified advice processes are intended to operate as a middle tier service falling somewhere between the comprehensive financial planning advice on the one hand and execution only services on the other.
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