Consumer watchdog Which? has called on the FSA to get rid of the ‘restricted adviser' label and replace it with ‘sales representative'.
In its submission to the Treasury Select Committee (TSC), the organisation broadly supports the RDR and emphasises its opposition to any grandfathering rights.
However, one area where it is calling for more radical regulatory overhaul is in the labelling of advisers.
It says: "Which? has consistently argued that there must be a clear distinction in the market between those offering independent, unbiased advice which is in the best interests of the consumer and those simply trying to sell one of a limited range of products (such as those advisers who work in banks).
"The labels attached to the proposed services will be important and must give the desired clarity for consumers.
"We are not convinced that ‘restricted adviser' is an appropriate label, preferring ‘sales representative' as it removes the illusion of impartial advice being given."
Which? also expresses concerns about a lack of awareness among the public over the abolition of commission and new remuneration structures.
It adds: "While consumers widely welcome the move away from commission, it is clear that many consumers will not know what a fair price to pay for the advice they are receiving or how to negotiate with financial advisers.
"More needs to be done in the run up to the end of 2012, both on a general level to increase awareness of the changes and specifically to help consumers feel comfortable with engaging with the adviser about the cost of the advice and to help them understand what a reasonable price would be for the advice provided."
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Responding to letter from Treasury Committee chair Nicky Morgan