As some advisers' RDR concerns are growing, so too are the number of misunderstandings and misinterpretations. Here, Prudential director of distribution change Russell Warwick has attempted to bust some of the more common myths...
Myth #1 "We need to be members of a professional body" Not necessarily. Being a member of a professional body will not be a requirement for advisers to receive a Statement of Professional Standing. However, being a member of a professional body may provide a number of key benefits for employers, including guidance on how to satisfy the regulatory requirements. Myth #2 "We will still be able to call ourselves ‘independent' if we offer an independent service alongside a restricted advice service." No you won't. Since depolarisation it has been possible for firms to offer different ...
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