The banning of commission on retail investments and the subsequent revelation of the "true cost" of advice has led some clients to consider the value of what their adviser offers, the Financial Conduct Authority (FCA) has conceded.
Though the regulator said there was "little evidence" that the availability of advice had reduced significantly following the changes brought in following the Retail Distribution Review (RDR), it admitted it had prompted some advised customers to conclude they are not receiving value for money. "By revealing the true cost of advice, the RDR has led some consumers to consider the extent to which the advice they receive represents value for money, and in some cases conclude it does not," the regulator said in a report on the impact of RDR. The FCA has published two pieces of work examin...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
