Provider role in decency limits is 'anti-RDR'

In the latest RDR paper, the FSA says product providers should have the power to decline or inform the FSA where they think adviser charges are too high. Skandia says this breaches the RDR principle of providers having no role in setting adviser remuneration levels, and has called for a rethink. "One of the key principles of adviser charging is that the amount paid to the adviser is agreed between the adviser and each individual client and that the provider should have no influence over the payment," Skandia says. "A product provider having to enforce decency limits is not consiste...