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Menu presents &#39signifcant challenge&#39 to multi-ties – Bankhall

Bankhall business development director Peter Mann believes the introduction of the Menu will put networks and support services providers in a stronger position, as customers will be able to see more clearly whether their adviser is choosing from a wide range of products or not.
Mann says: “The equivalence of disclosure part of the Menu will mean advisers will have to show clients the rate of disclosure before they give them any advice which will include the cost of advice whether paid through fees or commission. They will also have to show comparative costs of the product if it was sourced from other distribution channels.”
Mann believes the new Menu requirements will present a challenge to sales forces and tied advisers, he says: “The Menu will give whole of market IFAs the opportunity to show the consumer the range of sources he has looked at.”

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