L&G has unveiled its plans for adviser charging post-RDR, which include facilitated adviser charging and the removal of commission.
The group said today its range of investment and pensions products, both new and legacy, will be RDR compliant, with any new products launched without any commission attached.
It added adviser charging will apply across a core product range for new investments including Select Portfolio Bond, International Portfolio Bond, Suffolk Life SIPPs, Annuities (Pensions and With Profits), Cofunds Pension Account, Unit Trusts, and With Profits Bonds.
Trail commission will be paid on existing products that continue unchanged after 2012.
Jamie Vale, director, business development, platforms and distribution
said: "The success of RDR depends on delivery of the best outcome for our
customers in terms of access to advice and affordable products.
"We believe that does not just mean delivery of a full ‘RDR compliant' product range by the end of the year, but delivery of one of the lowest charging propositions for the adviser market.
"We are confident the low product costs for all our nil commission range of investments and pensions will help advisers to manage their own charging structures as they transition to RDR.
"Our research shows that four out of five consumers, regardless of income, prefer to pay for advice through the product they are buying. That is why we have focused on creating a wide range of new core products that offer facilitated adviser charging."
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