Dan Draper, global head of Lyxor ETFs, explains how the RDR is set to bring the UK intermediary market closer to the US investment advisory model.
It is abundantly clear that the UK's independent advisory sector is facing a major overhaul following the latest Retail Distribution Review (RDR) proposals. The proposals outlined by the FSA in July are set to create a more polarised market, with independent advisers on the one hand and on the other those providing "restricted advice". However, as a US citizen living in the UK, I am experiencing a case of déjà vu. Having started my career in the US, I can see that the RDR proposals will help move the UK intermediary market ever closer to the investment advisory model that dominates th...
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