MIKE Kellard, chief executive of AXA Wealth Management and Winterthur, has sought to dispel adviser fears that the FSA's retail distribution review is a Trojan horse designed to eradicate commission.
Kellard said the process in fact presented an opportunity for advisers to move into a longer term customer-focused business strategy. Despite initial industry concerns about ever-changing regulation, Kellard said the review could not be better timed. Referring to the speech by Callum McCarthy, chairman of the FSA, which presaged the review in which he asked whether the present business model is “bust”, Kellard suggested that there are failings in providers’ aims to associate their brands with qualities of reliability, trustworthiness, performance and to establish a long term relatio...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes