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Allow commission based IFAs says LIA

The LIA believes the defined payment system should be replaced by a menu based option allowing consumers choice as to how they pay their adviser.

It fears the introduction of the DPS will force IFAs to migrate out of the sector to become multi-tied which will damage consumers.

The professional body believes IFAs should be able to continue to do be remunerated off of commission as long as their clients are aware of the arrangement.

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