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Retail review kicks off

The FSA’s retail distribution review committee on professionalism and reputation meets for the first time this week to thrash out fundamental questions on the future of the advice sector.

The eight-person committee is chaired by Thinc Group corporate and strategy director Roderic Rennison and includes Chartered Insurance Institute director-general Sandy Scott and Institute of Financial Planning chief executive Nick Cann.

Aifa, which is represented on all five of the review committees, will be present and all other trade bodies have been invited.

It will address the future of the sector, such as what will happen to the IFA tag, remuneration and training and competency.

The three-hour meeting is the first of five scheduled before the release of an FSA discussion paper later this year.

The other committees will cover sustainability of the distribution sector, the impact of incentives, consumer access to financial products and services and regulatory barriers and enablers.

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