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

PA Working Lunches: Register to hear from SimplyBiz on regulatory challenges

PA Working Lunches: Register to hear from SimplyBiz on regulatory challenges

Join us for an informative session worth one hour of CPD

Professional Adviser
clock 23 August 2024 • 1 min read
Feel Good Friday: Evelyn Partners names corporate charity partner

Feel Good Friday: Evelyn Partners names corporate charity partner

Wealth manager partners with social mobility charity Career Ready

Professional Adviser
clock 23 August 2024 • 1 min read
P1 Investment urges digital tool use to bridge advice gap

P1 Investment urges digital tool use to bridge advice gap

'Advisers should provide subscription-based self-service tools and educational resources'

Sahar Nazir
clock 22 August 2024 • 2 min read