Overhauling the financial broker system
Comment: Fees or commission – what can we learn from the British experience? Donal Milmo-Penny reports.
The issue of fees versus commission for engaging the services of a financial broker is often debated, with most commentators reaching the conclusion that banning commission is the optimum consumer interest choice. But is it?
Commission was banned in Britain under the Retail Distribution Review (RDR) which came into effect on January 1, 2013. Almost 18 months on, what have we learned?
Chris Hannant, director general of APFA, the representative body for British financial brokers, believes RDR has...
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