Lack of commission-free debate in Asia 'a surprise'
Private bankers are not expecting commission- or retrocession-free rules in Asia soon. Fee-for-advice is possible within a decade, but firms may need to package it with additional services.
Senior private bankers in Asia have expressed surprise that commission-free distribution is not being discussed more in the region.
The trend globally is moving towards a banning of commission payments to distributors to prevent product churn, combined with a fee-for-advice system.
The UK and Switzerland have implemented rules on the back of a Retail Distribution Review, to introduce clarity over the way investors pay to receive financial advice and the services they can expect.…
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