IFAs beware. It is reassuring to see that the FSA is conducting an RDR readiness survey. This would have made an interesting research project had it been conducted every six months over the past two years but this seems a bit late! There is also an element of risk for some firms responding as depending on the answers you give, you could imply that you were breaching rules already by failing to prepare.
Schroders' research reveals a significant number of advisers outsourcing their investment process since the RDR – Stuart Podmore examines the findings.
It was Sir Callum McCarthy's infamous ‘Gleneagles speech in September 2006’ which laid the groundwork for the overhaul of the UK financial services retail distribution business model, something now referred to as the ‘RDR’.
At the beginning of August, the ‘You could not make it up” season got well underway with HM Treasury and the FCA launching a review to examine how to plug the advice gap (their own regulatory actions had caused). Well, they missed that last bit out in the announcement.
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