The Financial Services Authority (FSA) should tighten up the way some providers market their services, according to one adviser who says he is continually bombarded by providers pushing commission.
Karl Pemberton director of north-east based Active Financial Services explained that an email he received from a company called Bridging Loans with the headline "brokers we love you, earn up to 3% commission" was one of very many he had recently received. He said that these marketing emails are selling protection, bridging finance and secured loans and so are not banned under Retail Distribution Review (RDR) rules, which only block commission on investment products. However, Pemberton said no IFA worth their salt would get involved with a company marketing its services in this way. ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
