Experts fear advice menu will 'injure' IFA community

clock

Independent financial advisers will face further compliance as well as reduced incomes if the menu for comparing financial products is introduced as it currently stands, warn financial industry experts.

Latest proposals for the menu published by the FSA yesterday suggest consumers should be able to compare advice costs for different product types, distribution channels and advice payments methods. Fidelity Investments believes the regulator's proposals sounds good in theory, but says they will be hard to put into practice. Rob Fisher, head of IFA marketing at Fidelity Investments, says: "No one would dispute that - in theory at least - comparisons could help consumers. But they must be realistic comparisons which consumers can use. In practice we believe this concept will be unworka...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

PA Asks: Has demand for IHT mitigation risen at your firm?

PA Asks: Has demand for IHT mitigation risen at your firm?

This week’s poll also looks at the role of MPS and paperless operations

Professional Adviser
clock 25 March 2024 • 1 min read
FCA urged to prioritise a 'common sense' approach

FCA urged to prioritise a 'common sense' approach

Last week’s PA Asks poll highlights industry’s thoughts on the FCA

Sahar Nazir
clock 25 March 2024 • 2 min read
Advisers overlooking younger clients over asset value bias

Advisers overlooking younger clients over asset value bias

'Young people need to have access to trusted advice'

Sahar Nazir
clock 22 March 2024 • 1 min read