Elevate: Cash rebate ban 'not a massive deal'

Axa Wealth Distributors managing director, David Thompson, says it is unclear if the move is an attempt to achieve greater transparency or whether it reflects the regulator's suspicions surrounding advisers' handling of rebates. "This feels confusing to me," Thompson (pictured) says. "We want to understand the rationale behind the move - transparency or suspicions around what advisers do with rebates." But whilst Thompson says Axa Wealth will speak to the FSA to gain insight into the regulator's thinking, he thinks the impact of the ban on Elevate will be negligible. "We will have ...