Execution-only brokers have formed a new trade body in response to the under-representation of non-advised sales in the RDR.
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...
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