Execution-only firms form lobby group

The Association for Independent Discount and Non-Advisory Brokers (AIDB) has been created by several of the UK's largest execution-only brokers, including Chelsea Financial Services, Financial Discounts Direct and Willis Owen. AIDB estimates around 20% of retail assets under management are under the umbrella of non-advisory or discount brokers, and forms a substantial part of the UK market. Its members feel they have been excluded from RDR consultation process by the regulator, and AIDB hopes to provide a platform to lobby the FSA on their concerns. AIDB also wants to promote the b...