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Menu will not compare fees to the market

IFAs will not have to demonstrate how the fees they charge compare to the market average as they will have for commissions according to the Menu proposals published today.

The FSA says that because firms charge fees in a variety of ways it would not be a meaningful comparison to compare their rates to the market average.

Commissions are more directly related to the type of investment, its term and the amount invested, whereas fees can be worked out from any number of bases the regulator argues.

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