Renewed efforts to ensure introducers justify any money they receive for referring clients to financial advisers will bring to an end commission "sharing" arrangements, experts say.
The Solicitors' Regulation Authority (SRA) is stepping up its bid to ensure introducer firms not only inform clients about any commissions they receive, but also "demonstrate" why retaining that money was in their best interests. According to SIFA, which represents IFAs working with solicitors and accountants, introducers are now opting against a share of the commission and the organisation says it will not be long before no money changes hands between advisers and introducers. National IFA Positive Solutions last week said professional introducers referring work to its partner advise...
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