Factoring ban the biggest concern for advisers - report

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The abolition of factoring as part of the RDR is the biggest worry among IFAs, according to a report from NMG Financial Services Consulting.

While more than half the advisers surveyed were enthusiastic about the RDR, a sizeable proportion were reluctant, and factoring was noted as their biggest concern. NMG's survey found 60% of advisers were either ‘enthusiastic advocates' or ‘willing adoptors' of the RDR proposals. However, 21% say they are reluctant over the RDR model, while a further 15% reject the concept. For those reluctant advisers, the ban on provider factoring is their biggest concern, with four out of five noting this as a major worry. Two thirds of those survey object to plans to ban products with greater t...

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