FSCP has stressed it is more important to consumers that FSA gets its RDR right rather than finishes it quickly. The panel:
- supports a move to advisers working for a fixed fee so there is no commission-bias;
- is worried many consumers may not wish to pay and may therefore do nothing, so FSA should encourage availability of less expensive options;
- stresses the need to make sure consumers understand the labels for advice FSA and the industry ultimately agree; and
- supports raising professional standards for advice.