FSA probes firm over 'time is against us' commission letter
The Financial Services Authority (FSA) is understood to be examining the contents of a letter sent out by an IFA suggesting clients wanting to switch pension provider do so ahead of the upcoming commission ban, because it would be cheaper for them.
The letter, sent to members of a group scheme by Rowanbank Financial Consultants, stated commission paid by the new provider would cover its costs, whereas, from next year, fees must be paid by clients...
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