FSA ignoring lack of transparency in client charges - Novia

Chief executive officer Bill Vasilieff says whilst the push of the RDR towards clear product pricing and adviser remuneration has been acknowledged, lack of transparency has not been. “There are still too many examples of undisclosed rebates from fund managers to advisers that could be viewed as influencing platform choice for their clients, for example the illusion that platforms are ‘free’ to the client. “We know the FSA have promised a Thematic Review of platforms and we will be making our thoughts known,” he adds. However, Novia says it is ideally placed to serve those advisers...