Towry Law fuels commission debate fire

The financial planning and wealth management company has outlined five major changes it says need to be made to end practices that lead to what it terms "inappropriate advice". In addition, the firm also says the £3.2bn worth of commissions paid every year amount to "bribery" from product providers to attract new business. The comments follow hot on the heels of controversial remarks by the Financial Services Consumer Panel last weekend, which also suggested the FSA needed to consider a change in an IFA's remuneration method. Towry Law's suggested changes, which form part of its manif...