New adviser body backs commission-like charges

Led by former IFA Association director general Garry Heath and a group of IFAs and industry experts, Libertatem wants to push for a form of impartial advice allowed to move away from the fee-based charging method, which became mandatory under the Retail Distribution Review (RDR). The advice, which could take the form of simplified advice and sit alongside full independent and restricted advice, could be backed by a 'national scheme', Heath said. Such a scheme would determine fixed fees for certain work, which would then be spread across the product, and charged at the same rate across...