Pro RDR IFAs asked to come forward
22 December 2010 at 19:45
Independent financial advisers (IFAs) who support the regulation changes being brought in by the retail distribution review (RDR) have been asked to make their thoughts on the issue known.
The Treasury Select Committee is currently debating the benfits of RDR, which is being implemented by the Financial Services Authority as it seeks to tighten regulations on the selling of consumer financial products.
Speaking at a PanaceaIFA RDR event in London, Mark Garnier, a Conservative MP and member of the committee, said the committee needed to know the true balance of IFA sentiment as trade and professional bodies are claiming that MPs are only hearing from a vocal minority.
"On the one hand you have IFAs coming out and saying 'please listen to us'. On the other, bodies like Aifa (Association of IFAs) and the Chartered Insurance Institute are saying 'actually that is not the case, they are a vocal minority coming forward and saying one thing when our members are saying something completely different'," moneymarketing.co.uk quotes him as saying.
Posted by Tony Miller