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The Financial Services Authority (FSA) today said it was "time to put right" problems it had identified with advisers switching client investments.
In its guidance consultation today, the FSA set out examples of good and bad practice it discovered around firms' use of model portfolios, discretionary fund managers and distributor-influenced funds.
The Financial Services Authority (FSA) will allow advisers to continue to take trail commission after 2012 on fund switches within life policies set up pre-RDR.
Other switching articles
Insurer Aegon has warned of the “disastrous” ramifications of removing trail commission following a fund switch – a move the FSA hinted at in its latest consultation paper on legacy commission.
The fund platform industry has let advisers and clients down by not enabling free switching within an individual platform, Shaun Sandiford believes.
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