"New economic and regulatory arrangements for financial services"
RDR brought sweeping changes to adviser charging
Focus on clarity and accuracy of information
Response to FCA Retirement Outcomes Review
Maximum payout going up
Building trust with the next generation of investors
£4.5bn revenue earned from advisers
Awareness campaign needed
Know suitability requirements
Checklist for compliance
‘Above all, MiFID rules put client needs first’
For 'serious errors of judgement'
Confirms separate adviser register
'It will have to lead with product intervention and product governance'
A quarter (26%) unwilling to pay fees
Ramifications for advice firms
Senior Managers and Certification Regime
Introduction of all-in-fee
Brings data protection up-to-date
For ‘distress’ caused
To aid regulatory reporting
‘Will just exclude more people’ from advice