Too few IFAs in RDR working groups

In its financial services report for 2007, the IFA support services provider says of the 42 members of the five working parties, only six represented IFAs “despite having the largest share of the market”. The firm also criticises the Review’s suggestion only advisers with certain qualifications can call themselves independent, as well as the RDR’s assertion signing up to an ethical code of a professional body will improve firms’ behaviour. However, it does praise the Review’s proposals regarding introducing Customer Agreed Remuneration (CAR) – factory-gate pricing renamed - and the sugges...