Industry reaction to ex-IFA Ivan Massow's latest venture, which aims to divert 'unfair' ongoing commission payments from advisers to consumers, veers from disdain to disbelief.
Paymemy.com will rebate 80% of ongoing commissions to customers, while keeping 20%. Here's what some of our readers have been saying: David Quarrell Surely two "wrongs" don't make a right? how can he justify taking trail commission post RDR without offering ongoing service himself? Has he not just a one year window of opportunity and given the FSA's stance on positioning your business by taking more trail pre RDR I cannot see how the FSA would let him trade. Ken Durkin There was always this danger for IFAs who sacrificed initial for more trail commission. Fraser Brydon ...
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