Labelling advisers will only confuse consumers - IMA

clock

Adding new labels to IFAs and adviser services in the RDR will only cloud consumer clarity and confidence, the Investment Management Association (IMA) warns.

In a letter addressed to FSA RDR chief Amanda Bowe, the IMA notes reservations about the proposal for ‘primary advice’ and urges the regulator to reconsider the proposal. The IMA has provided a response to the three main areas of the RDR discussion paper which impact its members. It welcomes the FSA's desire for high professional standards, but is sceptical about labelling advisers according to the type of advice and service they offer. “This could actually have an adverse affect and cause confusion in a market where consumers already have a wide range of options available to them,” t...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Why advisers shouldn't rush into private markets

Why advisers shouldn't rush into private markets

'There's only so long the hamster wheel can keep turning'

Justin Cash
clock 15 December 2025 • 4 min read
Adviser workload set to rocket ahead of IHT on pensions changes

Adviser workload set to rocket ahead of IHT on pensions changes

Large volumes of clients will need reviews of financial plans

Isabel Baxter
clock 15 December 2025 • 3 min read
Advising silver splitters: Legal insight for older clients getting a divorce

Advising silver splitters: Legal insight for older clients getting a divorce

Why is divorce becoming more common in older clients?

Katharine Bundell
clock 15 December 2025 • 4 min read