The executive chairman of IFA firm Lighthouse Group says the FSA's Retail Distribution Review is being "hijacked by a debate about commission."
Speaking at the firm's annual conference David Hickey hit out at certain trade bodies for putting advisers under new pressures. He says: “The impression is being given that it [commission] is excessive and inappropriate, and I have to say together the ABI and the FSA have put the IFA sector on the defensive about commission.” The debate over commission has been at the forefront of the review ever since the regulator first outlined its aims and objectives. It has centred around concern commission could encourage bad advice as IFAs would sell high-paying products over those best suited ...
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