Rebel IFAs back 'sales advice'

The regulator has been accused of changing tack since its Interim Report in April, in which it championed a "clear distinction" between the two, by proposing 'sales advice' alongside 'independent advice' in last week's feedback statement. Although FSA RDR head Amanda Bowe describes the categories "very much as working titles", critics say the move would confuse consumers and undermine truly independent practitioners. But IFA Alan Lakey, partner at Highclere Financial Services, says detractors are "missing the point". "We need to move away from this view that what I do and what the chap ...