Scrutineer: So far, so good – but there are pitfalls in new rules on IFAs

NEW rules to outlaw commission payments to independent financial advisers, outlined by the Financial Services Authority (FSA) last week, have been warmly welcomed.

The commission-based selling of investment products has come under increasing fire. The system long exposed IFAs to the charge of recommending products on the basis of commission paid rather than what was in the best interests of the client.

When...