Head of distribution policy Peter Jolly says he is also pleased that the FSA have challenged providers to move to models where customers determines how much advisers are paid.
He adds: “We know of many highly professional IFA firms and advisers who have successfully shifted their business model to either fees or Customer Agreed Remuneration, whilst predominantly moving to a platform based model.
“It seems that this is indeed the way forward and the FSA’s direction of travel is largely in line with many adviser firms.”
Managing director of distribution Paul Matthews says the FSA has “broadly got things right”.
He adds: “Our strong relationships with independent advisers and our commitment to putting the customer at the heart of everything we do led us to much the same conclusions.”