FSA must not axe procuration fees - AMI

In its response to the regulator's Mortgage Market Review (MMR), the trade body repeats its stance any decision on remuneration must be agreed between the customer and the adviser. In May, the FSA hinted it may scrap the payment of mortgage proc fees and introduce adviser charging instead in a bid to stamp out product bias. But AMI director Robert Sinclair says: "Flexible remuneration options benefit consumers. "A one-size-fits-all approach cannot be of benefit to people with drastically different financial circumstances and is likely to limit access to advice. "With this in m...