RDR: Higher IFA qualifications too much, too soon?

Seaton believes the RDR’s proposals for higher qualifications for advisers will drive up prices and ensure only the rich will be able to afford true independent advice. The FSA’s proposals for advisers offering primary advice are even further off the mark, says Seaton. He says: “The proposed concept of less qualified, less regulated primary advice sales forces plays into the hands of the banks and life assurance companies. It will take us back to the 1980s with large tied sales forces flogging highly priced products to the masses. This will be a disaster for the general public.” However,...