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FSA Bans Commission Sales from 2012
Comments
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I get that mortgages ar enot included, what I wanted to know is: Will commission payments be banned or is it working on commission only banned?"Banking establishments are more dangerous than standing armies." Thomas Jefferson
"How can I believe in God when just last week I got my tongue caught in the roller of an electric typewriter?" Woody Allen
Debt Apr 2010 £00 -
Commission payments, and in particular trail commission, will be banned and instead advisers will be paid by charges set out and agreed up front with their clients. Adviser charges can be paid via fees, or can be paid via the product provider as a deduction from the client's investment but, in the case of the latter, strict requirements apply to ensure there can be no product provider bias.0
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That is for investment class business.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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