Chartered IFA quits as industry still 'sales based'

WR Financial Management director Tony Slimmings said that, despite the Retail Distribution Review's (RDR) supposed drive to ensure the industry puts clients' interests first, he believes many advisers continue to operate charging structures that depend on a product sale. "I have been approached by two companies looking to buy [my] business. Both purported to be independent but talked about how they would help us to sell more products," he said. "The vast majority of new clients believe that, because I am an IFA, I am going to sell them a product. And, though we are paid via adviser...