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Broker talkback

Will your company respond to the retail distribution review discussion paper?

Yes 63%

No 37%

Yes “We get so many documents from the FSA and although this is hard to understand for smaller firms, it is too big to ignore.”
Graeme Mitchell, Lowland Financial Services

Yes “The public classes independent advice as independent advice. Whether the adviser is paid by fees or commission is irrelevant.”
Michael Brill, Baronworth Investment Services

No “It is all very well insisting on fees if you concentrate solely on the high-net-worth clients but the vast majority of clients simply cannot afford to pay hundreds of pounds for advice when they might only be taking a £50 a month life insurance policy.”
John Watson, John Watson Financial Services

No “The way they act shows they are not interested in what people think. They only want to hear from people that agree with them.”
David Barnett, DPB Independent Financial Services

Yes “I never normally respond to these things as they seem to come around all the time but this paper is very worrying to the future of advisers.”
Chris Turner, Asset Management Financial Services

Yes “It is our responsibility as IFAs to make helpful contributions to this very important subject.”
Brian Handscombe, Handscombe Financial Planning

No “We haven’t really decided yet but to be honest we don’t really mind the RDR so much. We have an independent status and are in the process of moving to a fees model or offset anyway, so it should not affect us too much.”
Bruce Hendry, Blackadders

Yes “Tinkering about with names confuses consumers. Whole of market is independent and if you are not, you are not.”
Colin Rothery, Throgmorton Financial Services


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