Regulation

The RDR could have the unintended consequence of "disenfranchising" the majority of consumers from financial advice and thereby undermine the proposal's main aim, Scottish Widows says.

Up to 40% of advisers could quit the industry because of the RDR, says an industry veteran.

The newly formed Sesame Bankhall Group has appointed Mark Penton to the role of company director of its retail distribution implementation project.

The RDR could be detrimental to consumers both in terms of higher product charges and an increase in the cost of advice, warns the Tax Incentivised Savings Association(TISA).

Advisers may be forced to bear the cost of outsourcing structured product advice to third parties post RDR, following a damning FSA report into failings in the sector.

LV= says it welcomes further FSA moves to press providers into using realistic growth projections for retirement products.

Aviva has challenged the FSA's proposed ban on provider factoring in its response to the latest RDR consultation. The insurer argues any move to ban factoring for regular premium business will damage the UK savings market.

Openwork's new CEO Martin Davis says the FSA's proposed ‘restricted advice' tag is causing a degree of concern amongst its 2,600 multi-tied advisers.

Much has been said since the latest RDR consultation about the cost and time it will take for advisory business models to make the transition to accommodate adviser charging.

Packaged investment solutions can help IFAs meet their RDR responsibilities. Here, Mark Parry, director of strategic distribution at F&C Investments, explains how.