Clarity at last?

The protection industry spent last year campaigning to keep protection out of the RDR. The main argument for this was that consumers were not unhappy with their advisers being remunerated by commission. It was a good case. Unlike some of the more complex financial products, the price consumers pay for protection is clear, lapsing a policy is clear because their cover simply ceases, and there are no unforeseen financial impacts such as Market Value Reductions. After consulting widely among the relevant parties, the FSA has reached the same conclusion. Its RDR consultation paper publ...