Am I the only one who thinks transactional IFAs who rely on initial commission from products such as investment bonds must be feeling more than a little scared?
After devouring the RDR interim report at the weekend (sad I know!) I am in no doubt that the FSA wants to move IFAs to a place where they agree fees with clients using “factory gate” charged products. Whilst this is welcome news for those advisers who can demonstrate service, it is nothing short of a nightmare for the transactional IFA who continues to look for the next upfront commission fix. On a personal level, I have always struggled to understand how this method of doing business makes any sense because all the hard work involved in acquiring a client in the first place is lost if t...
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