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Thanks! - Click for larger version JS Financial Advice Service would like to thank all of our clients for their support during these difficult times.

Our competition and main problem comes from the banks. Regretfully, we have been at thick of trying to sort out problems caused by the banks.Unfortunately, the banks and building societies do not offer independent advice and this can lead to you being given poor advice.

If you value the role of an IFA then support your IFA. The banks and building societies are big enough to look after themselves.

From January, 2013, there will be the introduction of the Retail Distribution Review.

The Retail Distribution Review (RDR) is a key part of the Financial Services Authority's consumer protection strategy. It is establishing a resilient, effective and attractive retail investment market that consumers can have confidence in and trust at a time when they need more help and advice than ever with their retirement and investment planning.

The RDR aims to ensure that:

consumers are offered a transparent and fair charging system for the advice they receive
consumers are clear about the service they receive; and
consumers receive advice from highly respected professionals.

To achieve this the FSA have published new rules that will require:

advisory firms to explicitly disclose and separately charge clients for their services;
advisory firms to clearly describe their services as either independent or restricted; and
individual advisers to adhere to consistent professional standards, including a code of ethics.

These changes will come into effect from the beginning of next year and will apply to all advisers in the retail investment market, regardless of the type of firm they work for (banks, product providers, independent financial advisers, wealth managers, stockbrokers).