Call for advisers to 'play fair' in run-up to RDR

With the prospect of being forced out of the industry by the end of 2012, many advisers who have, for whatever reason, opted not to go down the Level 4 qualification route may feel justified in maximising their sales income in the interim by adopting high initial commission levels of 5% and above. By combining this with a strategy of churning client money – moving pensions and investments without sufficient justification from the client’s perspective just for the commission hit – unscrupulous advisers could award themselves a golden handshake as they bow out. In a nutshell, the very real d...