Aifa calling for split sales channel as part of its response to the RDR

Aifa is calling for a split 'sales' channel as part of the retail distribution review, covering business done with and without persuasion.

Under the RDR proposals, this route will be for customers not looking for independent advice. According to Aifa, the sales without persuasion option would give consumers the choice to buy directly, using a simple self-selection method. They will choose from a range of products, with personal responsibility for selecting the most appropriate one. Aifa director general Chris Cummings said firms operating in this space must have fully embraced TCF and have rigorous conflicts of interest policies. The group's research has revealed 60% of consumers would purchase products with produc...