Axa's Steve Folkard: Fond memories of the '80s

Adviser charging will still allow a considerable degree of flexibility in what charges are levied, but there is no doubt that it moves practices one step closer to a fee-based model, and discussion and competition will focus far more on cost and value than previously. This is, of course, exactly what the FSA intends, as more transparency will deal with the 'information asymmetry' that, in the words of Lord Turner, does not serve the customer well when it comes to comparing the value of services available in the market. Setting aside the debate on how flexible the charging options migh...