Uncertain times lie ahead for the protection sector following the publication of the Financial Services Authority's (FSA) interim report on the retail distribution review (RDR) last week.
There has still been no firm indication that the RDR will be including protection products but the suggestion that an adviser must be able to advise on the whole of market lends itself to suggest that it will. However, the FSA does not appear to be tripping over itself to clarify the position for the industry. The FSA needs to makes its stance clear for this market so that intermediaries can make clear headway rather than fumbling around in the dark. Alan Lakey, principal of Highclere Financial Services, slammed the RDR has a horror story saying that it will lead to greater confusion. W...
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