Let's get these adviser rules right
The bad news is most of the agreement is about the key things which are wrong with the changes proposed in the
While MBIE have generally being given credit for the amount and depth of consultation they have done about the Financial Advisers Act and what needs changing, it seems some of this was lost in translation when the legal people came to drafting the new bill.
Two areas which are creating angst are the need for better differentiation between advice and sales. This has been a number one issue from day one and indeed the way the current regime works, especially with the QFE option. There are two playing fields. One for independent advisers who give true advice. The other for vertically integrated organisations to sell their own products sans objectivity.
Consumers need to clearly be able to differentiate when they are being sold something.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
