Advisers who fear they will "fall off a cliff" when their reliance on commissions ends post 2012 are missing the bigger picture, Bankall IFA Services managing director, David Golder, said today.
Without the commission relationship with product providers, advisers can make the label "independent" financial adviser really mean independent, added Informed Choice managing director Nick Bamford. Their comments were part of a Personal Finance Society (PFS) online discussion today, What to look out for and how to make the journey from a transactional to a fee based business, chaired by Friends Provident's director of UK business Kevin Watkins. The move to fee-based charging topped the concerns of advisers e-mailing the panel, which consisted of Golder, Bamford and FP chief executive...
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