More than 80% of advisers support the idea of a common level of commission to avoid perceptions of provider bias, according to a survey by Aegon.
The majority also believe IFA firms which the FSA deems to have a strong capital base and good systems for Treating Customers Fairly (TCF) should receive a lighter regulatory regime. In addition, the Aegon IFA Insights survey revealed 88% would be dissatisfied with a total ban on commission as a means of remuneration, while 95% believe commission has a vital role to play because clients are unwilling to pay a fee for advice. The research, based on IFA opinion of the FSA’s ongoing Review of Retail Distribution, earlier showed over half of IFAs see the Review as an opportunity to enhance th...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
