Should advice firms in Hong Kong and Singapore adopt a fee-based model?
One big issue is that the markets are ‘fragmented’
One big issue is that the markets are ‘fragmented’
Board member of German trade body said it ‘would lead to a one-sided solution and limit the diversity of advisory models’
Reported u-turn will put Europe ‘even further behind the US and UK in promoting fair outcomes for investors’
As majority of financial professionals across the European Union believe it is unlikely to prevent mis-selling
Some worry the move will restrict access to financial advice across the bloc
Advisers are migrating ‘large back books of outdated bond business’ onto platforms
Increased regulation which disincentivises selling may leave clients without products
Some life premiums reported to have shot up as much as 60%
Revenues set to take a big hit as new commission structure now in effect
Especially as investors are concerned about unreliable and unpredictable equity markets
As he warns that commission-driven businesses are in for an especially rough ride
But views are mixed on whether the legislation should be delayed