Chris Smallwood, CEO of 2plan Wealth Management, explains why the FSA's clarification on trail commission will help advisers transition for RDR.
Whilst many a cheer was heard in the pub when England scored their first World Cup goal, fortunately it appears there are also a few other reasons for us to celebrate. The FSA has now confirmed advisers will be allowed to continue to receive existing trail commission post-2012, even when a firm is sold or joins a network. As FSA director of conduct policy, Sheila Nicoll, explains: “In requiring firms to abandon commission from 2013, we are not challenging your right to continue to receive trail commission for advice given in the past. “If, at the end of 2012, an adviser firm has a ...
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