Product category:
Savings and investment
News Release from: Fidelity International | Subject: Investments
Edited by the Insidemoneytalk Editorial
Team on 01 May 2008
Fidelity International comments on the
FSA's Retail Distribution Review Interim
Report
Peter Hicks, Head of IFA Channel said
"We are pleased that the Financial Services Authority has seen sense, particularly on the whole of market requirement for independent advice But we now urge the regulator to hasten implementation - further delay is not only of detriment to the industry, but more importantly to the consumer
This article was originally published on Insidemoneytalk on 15 Feb 2007 at 8.00am (UK)
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The interim report has successfully simplified the proposals; it's also removed much of the perceived threat to the adviser industry.
As it stands, the changes will also be good news for platforms as they are well-equipped to play a role in helping to separate adviser remuneration from product price.
"There are, however, some issues which remain and which will need careful consideration before these changes can be implemented - namely how to practically separate the price of products from remuneration and a review of maximum commissions.
This is a nice idea but we have been there before and it didn't work." FIL Limited ("FIL") and its subsidiary companies serve the major markets of the world by providing investment products and services to individuals and institutional investors outside the US.
FIL Limited manages a total of £150.9 billion of assets.
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