Treasury select committee members have urged IFAs to write to them with evidence following news that the committee is to consult on the impact of the retail distribution review.
Last week, FSA chief executive Hector Sants told the committee that the RDR was intended to deliver a transparent and fairer charging system, a better qualification framework for advisers and greater clarity on the type of advice being offered.
The TSC is calling for written evidence on whether the RDR will achieve these outcomes and whether they could be achieved in other, potentially better, ways.
Committee member and Conservative MP Harriett Baldwin says: ” I am very pleased that the committee has chosen to take this important step towards properly investigating the impact of the RDR on independent financial advisers. I would urge the hundreds of IFAs who have written to me on this subject to submit their thoughts to the committee.”
TSC member and Labour MP Andy Love says: “We are going to have a brief session on the RDR because the concerns have been raised at committee were loud enough to look at this in more detail. I think that is right and proper and I am pleased there will be a debate in the house because that again is a reflection of the level of concern out there.”
The committee says at present it is not conducting a full inquiry and no one will formally give oral evidence. The closing date for written evidence is January 17.