FSA's pledge to consumers: RDR will not raise advice cost

In an update on the consumer information pages of its website, the FSA gives details about how the RDR will impact consumers. Under a section marked 'Does this mean receiving advice will cost me more?', the FSA states the RDR will not cause a rise in the cost of advice. "These changes are not altering how much the advice should cost," it states. "But rather enabling you to agree how much the adviser gets paid rather than that decision being taken for you by a product provider." The update also tells consumers they have previously been paying for advice without their knowledge. ...