Insurers 'must look beyond small IFAs to survive post-RDR'

Banning financial advisers receiving sales-based commissions from insurers represents a "step-change" in how investment advice is paid for in the UK, it says. The resulting shift of some customers away from the IFA sector and towards cheaper, restricted advice will grow the market for non-intermediated sales of simple investment products, giving bancassurers an opportunity to gain market share, the ratings agency says. "Insurers that offer simple investment products through low-cost channels stand to gain from the RDR, while those that are dependent on small adviser firms to sell poli...