Clearer regulations for Independent Financial Advisors: As of December 31 2012 the Financial Services Authority (FSA) has made some major changes within the Retail Distribution Review.
These changes have effectively made the services provided and the charges associated with those services much more clear and with these clearer regulations for independent financial advisors will come a more stream lined industry focused on the whole market as opposed to specific products which advisors are tied to.
The charges associated with financial advice is also being altered as independent financial advisors will no longer be able to receive commissions from pensions providers for selling on of their products.
Independent Financial Advisors must now provide a clear quote which can either be paid up front of deducted from the pension product.
With these changes in place people in the general public will find that the advice provided can be more well rounded in regards to the products offered as well as the understanding of the charges incurred with the service provided making using an Independent Financial Advisor a much approachable option.