Fund Based Commission

Is it right that a pre-RDR policy with commission rebates on its investments can continue to pay the rebates to advisers?

Source: https://citywire.co.uk/new-model-adviser/news/fca-sticks-pin-in-pre-rdr-trail-commission-ban/a1107620

If so, why have RL360 stopped paying those commissions and pocketed it themselves?

Comments

  • edited January 9

    I contacted ThreeSixty about this and they said:

    "RL360 has no regulatory requirement to stop this payment, and looks to be doing so for commercial reasons. The only way you could challenge this would be on a legal standpoint, based off the contract which was originally entered into. You could argue with RL360 the client is entitled to this money based on the original signed documents (which hopefully you still have). "

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