HSBC has confirmed it is to close its tied advice service, with the loss of about 600 jobs, as the bank prepares for life post Retail Distribution Review (RDR).
Nearly nine out of ten financial advisers want to see a consumer campaign launched to raise awareness on the benefits of the retail distribution review (RDR).
Poor corporate governance in banks must be "urgently" addressed as it can ultimately lead to their failure, Financial Services Authority (FSA) chief executive Hector Sants has said.
Up to a quarter of advisory firms are unsure whether they will be RDR-compliant by 2013, according to research from the Association of Independent Financial Advisers (AIFA).
Most IFA clients are supportive of the incoming adviser charging regime, research suggests.