Policymakers missed an opportunity to narrow the advice gap by failing to make room for ‘regulated selling' in the RDR reforms, Institute of Financial Planning (IFP) chief executive Steve Gazzard has said.
Regulated selling - one of the IFP's original suggestions for a post-RDR advisory sector in 2007 - would comprise "limited" advice delivered by advisers who could still be paid via commission, provided it was fully disclosed. Though accepted as a positive move for investors, the blanket removal of commission on retail investment recommendations in 2012 has been blamed for increasing the number of people unable or unwilling to access professional advice. "I think [the RDR] is partially working," Gazzard (pictured above speaking at the IFP's annual conference last month) told Profession...
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