Brokers are facing fallout from the Retail Distribution Review
Impact on IFAs of commission rules could see local communities suffer
Since the Retail Distribution Review (RDR) was first mooted in 2005 the estimates of how many IFAs would be lost from the industry has fallen.
The figure has dropped from as high as 40% to the current estimate of 10% declared by Hector Sants, chief executive of the Financial Services Authority (FSA).
RDR looks at a variety of issues including raising professional standards and will result in IFAs losing the ability to take commission from a product with fees agreed up front with the customer
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