13-11-2007
Business leaders recommend unbiased financial advice
News by Adfero for Simply Business - independent providers of business insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
A group of politicians and business leaders have highlighted a need for unbiased, employer-led financial education schemes.
Organised by Axa, the 'roundtable' group states that money concerns can be a main cause of stress, which is in turn a primary factor behind absence. It adds these absences cost the UK a total of £9.6 billion.
As such, it wants "simple" employer-led financial education schemes that will "kick start a financial planning habit" among employees and therefore help reduce stress.
Richard Lambert, the director general of the Confederation of British Industry, states that "it is "clear that industry needs to take responsibility for the wellbeing of their employees" and a number of companies are already considering how they can provide this advice.
However, Vince Cable, the acting leader of the Liberal Democrats and a member of the roundtable, argues that "safeguards" are also needed to prevent financial services companies providing employees with their own products.
"Schemes such as this must be independent to avoid a conflict of interest," he explains.
Axa offers a range of finance products for consumers and businesses. These include van insurance, pub insurance and public liability insurance. Compare Axa quotes against other leading insurers with Simply Business.