RDR could punish consumers-TISA

The trade body says implementation costs for the RDR are being "seriously underestimated" and product charges will consequently have to be raised. Furthermore, consumers face having to pay more for their advice because of the double whammy of a scarcity of advisers and the need to pay VAT resulting from the switch to a fee-based system. Chairman of TISA's distribution advisory council David Hazelton says the impact on adviser charging could lead to a situation where regular contribution products will no longer look attractive. "As most consumers have built up their lump sum investm...