ABI protecting providers not clients - Nucleus

Nucleus criticised suggestions the ABI recently made to the FSA for its impending retail distribution review. It said the trade body's opinions were aimed at protecting providers and not helping clients. David Ferguson, the firm's chief executive, believed it would be more appropriate for the regulator to take, as the starting point, the notion advisers buy services on behalf of clients rather than sell products for the benefit of providers. "This approach is clearly at odds with the ABI's agenda but it is entirely in line with changes that have occurred in society over the last twent...