Survey Reveals Hostility Towards RDR Commission Ban

A recent survey has revealed that around 70% of pensions advisers are opposed to the commission ban that is to be implemented by the retail distribution review, showing a level of dissent that the FSA appears not to have fully anticipated. A poll of 16,000 IFAs by research group Dunstan Thomas of 16,000 IFAs demonstrated that 68% believed that commission should be allowed on pension products and they couldn't understand why the RDR was making moves to have it banned. The survey said "IFAs don’t like the banning of commission payments on products as they face building fee charging structures based on the complexities, demands and/or value of assets under management." A recent FSA study claims that only 8% of advisers would end up leaving the industry in the wake of RDR, when those retiring were removed from the equation.
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