FSA bans commission

dunstonh

whiteflag wrote: »

well its how I interpret this-

"Adviser recommendations should not be influenced by the existence of terms or facilities offered, by product providers to collect adviser charges. The FSA accepts that it can be benefical for a consumer to choose to pay their adviser out of their investment (for example, because tax relief may be available) but the convenience to an adviser firm of receiving either up-front or recurring adviser charges through this mechanism should not influence the recommendation made. There will be no requirement on product provders to facilitate adviser charge payments through the product"

I interpret it differently (although I do wonder if we are actually looking at different things). I see if that you shouldnt allow different charging options to impact on the recommendation to suit the firm.

Therefore if you get one product that allows remuneration through the product and another that doesnt you have to go with the one that is best for the client. Not only select from those that allow it through the product.

whiteflag_3

dunstonh wrote: »

I interpret it differently (although I do wonder if we are actually looking at different things). I see if that you shouldnt allow different charging options to impact on the recommendation to suit the firm.

Therefore if you get one product that allows remuneration through the product and another that doesnt you have to go with the one that is best for the client. Not only select from those that allow it through the product.

sounds like you interpret it the same to me.