Are providers' decency limits a step too far?

The Retail Distribution Review (RDR) abolished the commission-based adviser charging model because it wanted to give consumers more clarity and control over how much they paid for advice. So far, so good. But some providers and platforms, such as Skandia, Transact and Axa Elevate, have introduced so-called decency limits - a measure which puts a maximum amount on what an adviser can charge their client if they want to invest via the platforms. Charges exceeding, say, 5% would be flagged up by the system and investigated by the provider. Advisers are split on the issue, with some ar...