An adviser has hit out about the lack of understanding surrounding the value of advice post-Retail Distribution Review (RDR), claiming that the regulator should have done more to inform people.
Barretts Financial Solutions managing director Kim Barrett (pictured) said the Financial Conduct Authority (FCA) failed to ensure there was sufficient publicity around the RDR to educate consumers about past and present charging structures and the value of advice. A lot of consumers, he claimed, are still oblivious to charges that come out of products, such as trail commission, and they are also unaware of how much discretionary fund management costs, so they cannot understand the value of advice and adviser charges. He said: "The FCA is making the industry comply, rightly so, but it'...
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