Intermediary payment deals could violate FSA principles

adviser groups are becoming more aggressive when negotiating the price of deals

Intermediaries, networks and nationals are getting increasingly creative in seeking payment for assets, potentially contravening basic FSA principles. As broker groups look to take greater control over where clients' assets are held, many are devising deals precariously close to violating the rulebook. More than 50% of groups surveyed by Investment Week said they have been approached in recent weeks with deals that are more aggressive than previously seen. All declined to be quoted on the matter. In one case, it was reported, an intermediary group clarified the deal in greater detail tha...