Financial Advisers Dying Breed: Commission Ban Looms
Published / Last Updated on 19/06/2012
Financial Advisers Dying Breed: Commission Ban Looms.
The Royal Bank of Scotland (RBS) is to cut more than 600 jobs from its financial planning service ahead of the Retail Distribution Review (RDR), which it claims will have a "fundamental effect" on how financial advisers delivery advice to consumers.
According to a RBS spokesperson, RBS is committed to providing their customers with advice in line with their commitment to Helpful Banking and they have provided their advisers with considerable support by way of ongoing development via The Chartered Insurance Institute in preparation for RDR. As a response to this, RBS will be reducing the number of roles by 618 across UK and creating 351 new roles.