Former FSA consultant warns RDR won't work for consumer

Richard Hobbs, managing director of Beachcroft Consulting and a former independent consultant for the regulator, says proposed changes in the relationship between advisers, providers and consumers will not work. Hobbs says the RDR will not work for consumers, because it will put their relationship with their adviser under additional strain while asking them to pay ‘more' for the privilege. Negotiation of charges, an overload of information and additional responsibilities for consumers are unlikely to make them warm to the RDR changes, Hobbs suggests. "If we look at this new process...