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Talkback

Would the abolition of initial commission lead to the widening of the savings gap?

“Yes. Because a lot of people at the bottom end of the market would not pay fees so they would not do anything about savings advice.”

David Folland,Folland Financial Services

“Possibly. We do not take initial commission but I expect a lot of IFAs would go bankrupt. A further reason why the savings gap is widening is because of the end of tax reliefs”

Ronald Morton,WC Hall

“Yes. I do not think a lot of IFAs would be able to survive if there was an end of initial commission and everything else would follow suit.”

Christopher Holmwood, Hallmark Independent Financial Adviser

“Yes. A lot of financial advisers would not be able to operate and therefore a lot of people could not access advice, which would have an effect on all kinds of products.”

Brian Passman,Directors Independent Financial Advisers

“No, I don&#39t think commission comes into it all. It is a trade-off between returns and costs.”

Eric Gall,Goring-By-Sea Independent Financial Services

“Yes, it means you would have to go fee-based, which would limit the number of clients you could have.”

Brian Pack,Brian Pack Financial Services

“Probably, although it would depend how it was instigated.”

Annette Smith,Annette Smith Grapevine

“Yes. It would lead to more fees being charged and knock out lower earners from receiving advice.”

Paul Stokes,Jack Lawrence Financial Services

yes 88%

no 12%

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