RDR

Independent advice firms could be forced to offer restricted services unless the FSA scales back its definition for retail investment products in the RDR, the Association of IFAs (AIFA) says.

The FSA's protection proposals under the Retail Distribution Review (RDR) have been applauded, but with a few points to clarify.

Law Commission proposals on non-disclosure intend to clarify rules over when an adviser is representing a customer and when they are acting for the insurer, writes Owain Thomas and Laura Miller.

Financial advisers are the most trusted source of retirement advice, according to Defaqto, just beating friends and family for the third year running.

Below is the section from the latest RDR consultation paper that applies to pure protection.

CBG Financial Services has chosen Ascentric to support its platform solution, in a bid to get ready for a post-RDR world.

Changes to the labels ‘independent' and ‘restricted' for the protection market will confuse advisers and consumers alike, say industry experts.

The cost of a ban on commission in the group personal pension (GPP) market could be as high as £420,000 for the largest adviser firms.

The FSA says the establishment of an in-house professional standards model will be cheaper than setting up an independent organisation.

Advice on group personal pensions (GPPs) should be paid for on a fee basis, even if employees receive no individual advice, the FSA says.