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RDR: What it means for you

Next year the way you pay for financial advice and investment products is to change dramatically. Following the Financial Services Authority's (FSA) Retail Distribution Review (RDR), commission payments to financial advisers will no longer be allowed. At the moment, if you go to a commission-taking adviser you get what seems like free advice, but this is not the case - your advice is being paid for through the commission that the adviser receives. The product provider gives your adviser a percentage of your investment, typically 1 to 8 per cent, or sometimes more on a lump sum investment.

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By Leonora Walters,
21 December 2012

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