Being the fall guy: Is liability for loss a sales aid?

A little under a month ago, Stephen Gay, director-general of the Association of Independent Financial Advisers (AIFA), told a room of practitioners they should tell clients that buying their services allows them to transfer some liability for financial transactions. It could be a selling point for fee-based advice after the Retail Distribution Review (RDR), he said. “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. There is redress there, and IFAs should push that a lit...