Will the RDR bring us close to the US 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...