The FSA has published its RDR feedback statement. Will distinguishing between independent and sales advice, setting minimum qualifications for IFAs and introducing a standard for independent advice ‘reform the investment market' and increase confidence and trust for consumers?
Matt Morris, LifeSearch The outcry from IFAs after the Retail Distribution Review (RDR) publication has been more or less unanimous in labelling the regulatory report damaging to the future of independent advice in the retail investment market. It seems almost inevitable that the RDR will eventually include protection, although it is not currently included in the remit. In particular, it is important that there must not be a forced move away from commission to fee-charging in protection because there is no investment element here for commission to eat into. Few people would pay a fee...
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