'Advice' must not only be whole of market post RDR - ABI

In its response to the FSA’s interim feedback statement on the RDR, the ABI says “all suitably professional and transparently remunerated advisers should be allowed to provide advice and give product recommendations-not just those who offer products from the whole of market”. This would mean tied and multi-tied advisers could sit in the ‘advice’ rather than ‘sales’ category suggested in the interim statement. IFA lobby groups have been arguing that only professional advisers who recommend products across the whole of market should be able to offer advice. A clear distinction between sa...