Fowler Drew: RDR will 'almost certainly disappoint'

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The RDR is bound to disappoint because it will fail to meet its public policy objectives and widen the advice gap, according to wealth manager Fowler Drew.

A damning report by the firm's founder Stuart Fowler concludes the Retail Distribution Review (RDR) has "serious flaws" and will fail to achieve its stated aim of lowering the cost of advice and increasing public access to it. "I find serious flaws in both concept and delivery," his report said. "These flaws mean RDR will almost certainly disappoint expectations and by effectively increasing exclusion may well do more harm than its questionable capacity for good." The scathing criticism of the reforms comes as the Treasury Select Committee (TSC) today called for a 12 month delay to R...

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