The Association of British Insurers and Fidelity International, one of the UK’s largest fund houses, are calling for radical change in the way investment products are sold across Europe.

The ABI will urge the European Commission to remove remuneration bias from the sale of retail investments and raise the level of professionalism in the industry. In-house advisers who only sell the products of one company, such as a bank, should be forced to tell consumers they are “restricted” advisers at the start of the sales process, the ABI will argue.