White-labelled supermarkets under threat

Advisers deemed independent under the FSA's proposed regime may not be able to offer clients access to their own fund supermarkets because they pay commission. Currently a client can buy through a fund supermarket on an adviser's website, often a whitelablled version of Cofunds or Fidelity FundsNetwork. Upon purchase, the adviser receives commission, and in some cases, trail commission, even though the client bought without advice. Under depolarisation proposals an adviser using the title independent must either charge a fee or have a defined payment structure, a remuneration structur...