Fee-based firms main reason for industry growth - SII

In its response to the FSA’s Retail Distribution Review (RDR), the SII says the industry is witnessing significant growth because of the levels of professionalism in firms, and the fact most do not operate by an “undeclared and opaque commission structure”. Ruth Martin, managing director of SII, said: “The retail investment management industry - private client stockbrokers, private banks, wealth managers - is seeing significant growth in client numbers and assets under management because firms in this industry seek a long term relationship with their clients and place great emphasis on b...