The divorcing of product and adviser charges must not result in higher overall costs for the consumer, warns Skandia.
The complete and overall cost to the consumer must be relayed in projections and key features documents, as well as details of the separate charges for the product and for the advice, it says. However, Skandia says it welcomes the principle of adviser charging - a key feature of the RDR which seeks to remove the possibility of product and provider bias from the advice process - saying it will go "a long way" to improving consumer perception of the financial services industry. It says a natural outcome of adviser charging will be that consumers will question how much they are paying fo...
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