RDR: proposals and reaction

The FSA has published the initial summary of comments received from consumer bodies, advisers and pr...

The FSA has published the initial summary of comments received from consumer bodies, advisers and providers to its retail distribution review of last year. This feedback statement is designed to give the industry an idea of the direction the FSA is taking ahead of a formal feedback statement and consultation paper due in October. Key recommendations: 1. A new look, single tier professional advice sector with higher standards than today, built on advisers acting in the long term interests of their clients To be called an adviser, the advice offered must be whole of market. The rem...