The UK FSA has today published new rules to remove commission bias from advice on retail investment products.
Sheila Nicoll, FSA Director of Conduct Policy said: “If this market is to survive, and thrive in the future, people need to know their adviser is acting in their best interests … It is vital that consumers know not only the cost of financial advice, but also its value. There is a need to reconnect the adviser and client, where one pays for the services of another, and without the distraction of commission. Only then can consumers have real confidence and trust in the advice they are receiving.”
