Aifa repeats calls to scrap FSA proposals to segment advisory market

AIFA has repeated its call for the FSA to scrap proposals to segment the advisory market. In a s...

AIFA has repeated its call for the FSA to scrap proposals to segment the advisory market. In a summary of its response to the RDR, sent to its members today, the association said the FSA should regulate according to the “natural divide of the market”, separating sales from financial advice. It criticised what the FSA has dubbed primary advice, as it risks detriment to the consumer and the whole market. “It is a bad idea that will not work, risks further undermining confidence in financial services and should be aborted,” the statement said. It also backed fee and commission payment ...