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Aifa welcomes rethink on Defined Payment

Ron Sandler&#39s approach to remunerating advisers is more practical than the Defined Payment system proposed by the FSA according to Aifa chairman Lord David Hunt.

He cautions, however, that in depth examination about how to practically implement the proposals will be important.

The trade body also welcomes the proposal for a distinctive definition of an adviser, which “will bring exclusive benefits not just obligations.”

Hunt expresses concern about the “stakeholder suite” products, saying allowing them to be sold by unqualified advisers “flies in the face of experience.”

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