Gay tells advisers to use liability as a selling point

Gay said IFAs will find it increasingly difficult to serve clients after the retail distribution review (RDR) and the value of taking responsibility for transactions could be a selling point for fee-based advice. "People do not understand that, when they buy advice, part of what they pay for is a transfer of the liability from their shoulders to the shoulders of professionals," said Gay. "There is redress there, and IFAs should push that a little more." Gay's comments came as AIFA and Prudential launched a report into the effects of the rising cost of advice on retirement decisions...