The majority of financial advisers believe IFAs will eventually be wiped out by the Financial Services Authority's retail distribution review, according to an IFAonline industry straw poll.
The review – launched by the FSA in June last year – aims to identify and address the root causes of problems which continue to emerge in the retail investment market, including assessing the “sustainability of the distribution sector”. In response to the poll question, “How will the retail distribution review change the industry?” 123 (70%) of the 175 responses said they believe IFAs will eventually be wiped out. A further 27 (15%) of respondents said the review won’t result in any changes to the industry, while 19 (11%) said commissions will be replaced by fees and just six (3%) tho...
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