Industry must forge its own future on distribution

The UK financial services industry has seen many overseas companies coming to these isles with talk ...

The UK financial services industry has seen many overseas companies coming to these isles with talk of how it is different abroad. In cultural terms, the UK is an island and it is often said our financial services industry will be forced to adapt to the ways of other countries or will not survive. Some of the contributors to the report released by consultancy Oxera, based on research carried out for the European Commission, clearly hold this view. 'Most IFAs are not very good because they are too focused on distribution margins. The bank knows best what an investor can afford, comments o...