Ban commission and put me out of business IFAs say

IFAonline readers, responding to a recent online poll asking what effect the banning of commission by the Financial Services Authority would have, clearly stated their belief such a move would mean their businesses would struggle to stay afloat. Well over 500 readers responded to the straw poll with 350, or 61%, claiming they would struggle to stay in business were commission banned. Meanwhile, a further 182 (32%) intermediaries said banning commission would be detrimental to consumers and provide less choice. Only 6% of intermediaries believe they would be seen as more professional we...