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RDR CP: Providers welcome status of distributor influenced funds for IFAs

Providers support the FSA’s decision to allow advisers who offer distributor influenced funds to remain ‘independent’ as long as they do not restrict their advice to these funds.

The latest retail distribution review consultation paper said that independent advisers must rigorously assess the suitability of such funds for their clients, whether recommending it is in the best interests of the client and to not assume that a particular product will be the best choice in all cases.

Merchant Investors head of compliance Tim Fox says: “We are delighted that the FSA recognises the added value and benefits to IFA’s and their clients that DIF’s can provide.

“Any threat to compromising advisers independent status by preventing the use of DIF’s would have been a retrograde step.”

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