Most advisers against cash rebate ban

According to an Ascentric study of 90 advisers at the wrap's recent seminars, 86% of IFAs think fund manager rebates to client cash accounts should continue. The FSA proposed banning cash rebates in its November's consultation paper, citing their potential to disguise the cost of advice, but the plan met with widespread opposition from the platform community who argued it would be overly-complex and detrimental to consumers. Final rules are now expected in Q3 after the FSA pushed back its previous Q2 deadline. Despite a concerted lobbying effort by major platform players, with the exc...