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True picture

Commission remains by far and away the biggest form of adviser remuneration in the market. Figures from True Potential in a survey of 5,000 advisers suggest that a whopping 79 per cent of pension and investment business is through upfront commission.

We urge the FSA to make sure that when it fleshes out the details of what it wants in the next few weeks, it also has an understanding of what the market is like on the ground. But we also urge advisers to concentrate their minds and at the very least consider changing model before lots of the decisions about how they must run their businesses are taken out of their hands.

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