RDR may mean more expensive, less accessible advice - Tory MP

Speaking at the Association of IFAs (AIFA) annual dinner last night, Waterson pointed to research suggesting only 51% of people currently receive advice, "a luxury not everyone is able to afford", he said. However, he argued RDR proposals to change the current system and increase access to advice could backfire. "There is a risk advice will become more expensive rather than more accessible," he said, reiterating the same fears often voiced by AIFA director general Chris Cummings. Waterson said to avoid this, the FSA needs to "better define the outcomes of the RDR" with a priority ...