Advisers should trumpet their specialist knowledge as the RDR is set to ring the changes over IFA charging, writes Sue Mallender, senior associate at Bovill.
It is widely accepted and understood that the RDR requires a step-change move from remuneration by commission to adviser charging. This encourages the promotion of ‘service’ as opposed to ‘sales’, with IFAs reinvigorating their business models and service propositions to emphasise their primary values of specialist knowledge and advice, rather than being the arrangers of products. Indeed, a business strategy focused on the provision of a bespoke client advice service, as opposed to a transaction-led business model, appears to be the one most in line with the RDR’s objectives. However, th...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
