Consumer Panel says RDR guide does not go far enough

clock

The chair of the Financial Services Consumer Panel (FSCP) has said the FSA's two-page consumer guide to the Retail Distribution Review (RDR) does not go far enough to explain upcoming changes to financial advice.

Published earlier today by the regulator, the guide represents its first proactive effort to communicate the outcomes of the Review to the public. However, FSCP chair Adam Phillips said the FSA had missed an opportunity to provide a more comprehensive summary of the reforms. "I would have preferred to see something more extensive," he said. "Consumers who are already working with a financial adviser may want a more independent view than what the adviser is telling them, and that takes more than two sides of A4. "I would have also thought advisers themselves might have welcomed a do...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on RDR

RDR ten years on: An advice industry changed for the better
RDR

RDR ten years on: An advice industry changed for the better

'The end of the advice industry as we know it'

Kevin Silvester
clock 08 February 2023 • 2 min read
RDR

Deja vu: Are we heading back to the future on commission?

Marty, fire up the DeLorean

Tim Sargisson
clock 13 January 2016 • 3 min read
RDR

Blog: How can we shrink the advice gap?

The advice gap has been a popular topic since the Retail Distribution Review, but hasn't this gap always existed?

clock 02 November 2015 •