16 pages of disclosure per adviser action
A financial advice firm that tried to challenge the Financial Ombudsman Service (FOS) in the High Court over a ruling on pension advice has had its case thrown out.
Paul Hudson, CEO of Cirencester Friendly, welcomes recent FSA proposals to exempt certain Holloway-style protection products from the RDR's fee-charging and professionalism rules, but insists there is still work to be done.
The regulator's about-turn to allow commission payments on Holloway-style income protection plans after 2012 proves the RDR neglected lower-premium paying consumers from the start.
Today's quarterly FSA consultation paper (CP) provides a valuable opportunity to explore better ways of communicating income drawdown risk to investors, pensions experts say.