RDR 'will only hit firms masquerading as independent'

The chief executive of IFA-owned wrap platform Nucleus says gloomy interpretations of the FSA’s proposals - particularly towards smaller firms - overlook the fact most quality UK IFAs are small businesses which for years have provided high quality ongoing advice. He says the RDR only poses a threat to small firms which claim independence but collude with life and pensions providers to distribute their products. He argues there can be no true independence in selling products for a small group of providers in return for commission, particularly when that commission is often leveraged in ret...