Winterthur is preparing to launch its Flexible Adviser Remuneration (FAR) model which it says reflects the structure expected to be created from the RDR.
The firm says FAR allows advisers and clients – not providers - to agree a system of payment for advice and describes the process as “transparent and easy to understand”. It says FAR can also be aligned to the changing levels of advice required over the life of a policy and closely resembles the Customer Agreed Remuneration (CAR) model preferred by the FSA. Frank Parsons, director of sales at Winterthur, says: “The changes introduced will result in a win-win, with customers paying only for the amount of advice they require and IFAs being able to offer transparent pricing. “Whilst our rem...
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