AIC urges FSA to unbundle cost of advice

The AIC is urging the FSA to unbundle the cost of advice from the cost of financial products. Th...

The AIC is urging the FSA to unbundle the cost of advice from the cost of financial products. The FSA is due to publish its discussion paper on the retail distribution review on 27 June, which examines the financial services industry’s current model. Daniel Godfrey, director general at the AIC, believes that current structure rewards distribution clout, and does not sufficiently incentivise high quality advice. “The cost of advice and the cost of the product should be unbundled. The price of the actual advice given should be made transparent. But it is even more important that investo...