FSA review should aim for factory-gate pricing

Mike Kellard, chief executive of AXA Wealth Management and Winterthur Life, says although he is not sure the present business model is bust, “there is a widespread perception it is, and if nothing is done to change this perception, then there will definitely be severe implications for the long term future of the industry”. As a result he says he “personally welcomes the FSA’s work in this area” as he points out trust in the industry, in product providers and in advisers has taken a “huge hammering over recent years”, leaving consumers generally either wary or outright opposed to the life...