A view of advice then and now (2001 v 2022)

RDR, pension freedoms and more

clock • 7 min read

As Professional Adviser continues to celebrate its 21st birthday, this article assesses how advice looks now, in 2022, and when PA was born back in 2001…

At the time, the Retail Distribution Review may have been drawn criticism as it imposed new regulatory burdens, qualification requirements and reporting requirements on financial advisers, many of whom had operated happily under the previous system. However, it brought a professionalism to the industry that has immeasurably improved consumer trust. It has helped ensure that, in 2022, financial advice is thriving, while also being vastly more resilient to economic and financial market shocks. Advice in 2001 was a different beast. Commission-based advisers (the majority) didn't get paid un...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Deputy PM Rayner remains in post after £40k stamp duty error based on tax advice

Deputy PM Rayner remains in post after £40k stamp duty error based on tax advice

Deputy PM refers herself to ministerial standards adviser amid ongoing scrutiny

Sahar Nazir
clock 04 September 2025 • 2 min read
'There are sharks out there': V11 footballer plight highlights professional athlete financial vulnerability

'There are sharks out there': V11 footballer plight highlights professional athlete financial vulnerability

‘Sadly, in every industry there is good and bad'

Jenna Brown
clock 03 September 2025 • 8 min read
Clifton Wealth Partnership completes two acquisitions adding £146m AUM

Clifton Wealth Partnership completes two acquisitions adding £146m AUM

Advisory practices in Bristol and Yorkshire join CWP

Jenna Brown
clock 03 September 2025 • 2 min read