These job cuts at RBS go to show why you might not want to work as an investment advisor any more

So RBS is cutting yet more jobs. This time, 600 people are being let go across the UK as the bank scales back the advice it gives to retail customers.

The Unite Union has called the cuts "brutal" and says those involved have been under a lot of stress to meet unreachable targets.

RBS, however, lays the blame firmly at the foot of the Retail Distribution Review, which is due to come into force in 2013 and will prevent anyone offering retail customers financial advice from charging commission on the products they sell. Instead, customers will have to pay for the advice upfront - and it seems they're not expected to do so,

The Financial Times points out that Barclays has also been cutting advisor jobs, although Nationwide has been perversely adding them.