The Personal Finance Society (PFS) has launched its final guide to determine whether member firms will meet the criteria of the Retail Distribution Review (RDR).
‘The Complete Business' is billed by the PFS as "a framework for operational excellence in financial planning," broken down into three sections. ‘RDR compliance' details the mandatory requirements for advice firms, including client proposition, advice model, client engagement and operations. ‘Business critical' suggests the most profitable types of business model for a particular firm to stay in business, with a third section on how to grow post-RDR. Advisers can view the full guide HERE.
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