FSA issues RDR guide for consumers

The six-page document runs through the three key areas of 'improvements' to the industry, with consumer told they will 'know how much advice will cost', 'know what you are paying for' and 'get improved professional standards'. An explanation of the difference between independent and restricted financial advice post-RDR is also included in the guide. It also explains how commission works, detailing how it means advice is not free at present. It added: "From 31 December 2012, financial advisers that provide ‘independent' advice will be able to consider all types of investment product...