A survey suggesting consumers are better off with IFAs than tied advisers raises "serious questions" about proposals at the heart of the Retail Distribution Review (RDR), AIFA says.
The Which? study, published this week, found over half of independent advisers passed its tests compared with only a third of those advisers tied to banks and building societies. But Chris Cummings says reforms put forward in the RDR could see an end to independent advice for everybody. “The key message from this [Which?] report is simple: to get the best advice, avoid the high street, shop around, and stick with advisers who are independent. “[It] shows there is still work to be done to raise standards across the industry. However, Which? sets an exceptionally high benchmark for advi...
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