IFAP seeks ability to specify 'fee-only' IFAs

The marketing body - charged with promoting the independent status of IFAs - has recently come under fire from some IFAs for altering the details of its online listings since depolarisation, as the online ‘search for an IFA’ facility is no longer able to verify whether a firm is paid for advice by fees and commission or by fees only. Since depolarisation, all IFAs must offer clients the ability to pay by fee, so IFAP has recently changed the way its "Find an IFA" search facility works as IFAP must be "seen to be providing reliable and accurate information to consumers" about the status an...