Advisers tell AIFA proposals in RDR tilt towards banks

AIFA's first 'Your Voice' interactive chat was held on October 11. The names of the participants were not disclosed, though one adviser accused banks and life offices of hiding behind the "shirt-tails" of the FSA, in the hope that the regulator would sanction a return to "inefficient tied distribution and poor quality products." Another adviser said that the size of the industry was not represented proportionately at FSA meetings and that banks had an equal voice, despite holding only around a 12pc market share. "It seems to me inevitable at some point in the future that a min...