Lincoln Financial Group is calling for a clear differentiation between advice and sales to come out of the retail distribution review.
In its response to the RDR, Lincoln says the current plans, suggesting four types of financial adviser, could lead to consumer confusion.
Lincoln says the customer agreed remuneration model needs to be totally transparent if it is to deliver customer understanding.
Head of life sales and development Ian Noble says: “The majority of financial advisers already perform a valuable role in ensuring that consumers receive advice appropriate to their circumstances.”
“We believe there are areas that require closer attention and consideration if the RDR is going to meet its objectives of creating a retail market where consumers are capable and confident through having access to clear, simple and understandable information.”