Comment: A brain change

Attending a provider presentation recently which detailed a new product offering initial commission, I asked what the arrangement would be after the commission ban. The answer: “We haven’t the foggiest". In theory, we are all well on the way to the bright new world of RDR, but – and I’m not making some kind of self-righteous point here – I am amazed how much unpreparedness there is around. The FSA has not helped. It left key decisions too late and, even then, appeared to be unaware of their impact – VAT, trail commission and platform rebates being a few examples. But we have known ...