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Watered down defined payment system from Sandler

IFAs should be able to negotiate their charges with potential and existing clients Ron Sandler&#39s review team has concluded in his recommendations, effectively watering down the FSA&#39s Defined Payment proposals.

Payment options would include upfront fees, a retainer basis, as a percentage of the assets under management or payments dependent on the sale of a product rather than for an advisers&#39 time.

Like the FSA&#39s proposals, this charging structure would only apply to those who wanted to use the phrase independent, other types of advisers like authorised or multi-tied could still operate on a commission basis.

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