Aviva wrap head urges FSA to reconsider supermarket rebates

Nick Burton says the regulator should apply its principles of transparency and clarity over adviser remuneration across the board and take another look at the payments fund supermarkets receive from fund management groups. Burton says the rebates effectively amount to commission and should be passed on to the end customer. He thinks the payments run counter to the regulator's drive to increase transparency. "The FSA has clearly stated the situation where product providers pay advisers to sell products cannot continue," says Burton. "If you apply the same logic across the value chain t...