FAMR: Networks rule out change over commission return

The UK’s largest adviser networks have ruled out shaking up their business models if the FCA allows commission to return.

Intrinsic and Tenet, as well as IFA support services group Simplybiz, have welcomed the prospect of commission being reintroduced as part of the Financial Advice Market Review.

Last week the Financial Conduct Authority’s acting chief executive Tracey McDermott said that allowing commission again was being considered as part of the FAMR, which is exploring ways of giving the mass market access to advice.

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