Robert Sinclair, director at the Association of Independent Financial Advisers (AIFA), Association of Mortgage Intermediaries (AMI) and Association of Finance Brokers (AFB) today expressed his concern at the decision of the Advertising Standards Authorities (ASA) to take no further action against NatWest for its Moneysense adverts
Commenting, he said: "There is significant industry anger at the ASA adjudication on the NatWest adverts advocating an unbiased review of your finances and the use of the FSA Moneysense brand by a commercial firm.
"As one of those who complained to the ASA they have kept me updated throughout their enquiry and decision making process. It unusually went all the way up to their Board. It is disappointing that the decision has gone against perceived common sense. NatWest understandably fought the case hard. But I think the ASA Board looked at the fact there were only 16 complaints and saw it as a tough call.
"As one of only 16 to complain I am surprised and disappointed at the decision. Many people were annoyed and more will be vexed when NatWest return to our living rooms with these adverts again, as they can now rightly do. But with only 16 people saying it was an issue why would an independent Board chastise a major plc with its evidence of how it was a fair advert.
"We can be unhappy, but there are only 16 people who can feel justifiably angry, those who tried to put an end to this advertising but failed. It was a bad call by the ASA, but I can see why. If the adverts do reappear or similar language is used again then we must unite and complain in large numbers to express our anger.
"At AIFA, AMI and AFB we will continue to put pressure on NatWest and the Financial Services Authority to deal with this and not use these adverts again. NatWest are a part of a plc that has a lot of intermediary focused businesses, so we hope they are listening. They should not see this as a victory."
