New rules on pensions and investment advice being bent before they come into force, according to the FSA
New rules designed to make it clear to consumers how much they are paying for pensions and investments advice are being swerved before they are even in force.
The Financial Services Authority (FSA) says that although the ban on payment of commission on pensions and investments does not start until the end of 2012, financial advisers and product providers have already found ways to get around it.
New rules designed to make it clear to consumers how much they are paying for pensions and investments advice are being swerved before they are even in force.
The Financial Services Authority (FSA) says that although the ban on payment of commission on pensions and investments does not start until the end of 2012, financial advisers and product providers have already found ways to get around it.
The rules have been put in place following the FSA’s Retail Distribution Review. Advisers will no longer receive commission on pensions and investments they recommend to clients.
For more on this story, see: http://www.guardian.co.uk/money/2012/oct/01/rules-transparent-financial-advice-bent-fsa?newsfeed=true
For more information on the changes to financial advice, go to: http://www.fsa.gov.uk/consumerinformation/product_news/saving_investments/changes-financial-advice
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