Bankhall managing director David Golder yesterday told more than 600 of the support provider's member IFAs they had become "collateral damage" in regulators' war against the banks, and called on them to unite against RDR proposals he argues will "decimate" the industry.
Addressing delegates at the company's annual conference at Wembley stadium, Golder said while banks had failed to control the actions of their staff and been allowed to "pretty much follow any commercial path they choose", advisers had continued to "accrue very little in terms of consumer detriment". Yet the RDR, he added, had "somehow become focused very intensely on the activities of advisers". "We have become collateral damage in the war against the banks. We have genuinely worked on behalf of the consumer, and our services have been welcome and valued by them. "We say write to ...
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