The Financial Services Authority (FSA) has admitted it still has plenty of work to do on educating the public on the Retail Distribution View (RDR), but said advisers will also have to play their part in explaining the changes to the market.
Until now, the regulator has only issued a two page leaflet on the issue, explaining the changes on professionalism, status and adviser charging.
Speaking at a Defaqto RDR conference yesterday, Colin Wilcox, from the FSA's RDR implementation team, accepted there were concerns about communication levels, but said there was "a lot more coming" over the coming months.
However, he also insisted advisers themselves had to play a role in explaining changes to members of the public, even pointing out it could become a marketing opportunity.
"I think it's a joint effort quite frankly and it's not just up to the regulator to educate the market about what's going on.
"You can help them understand: this is what an independent adviser does, this is what a restricted adviser."
For existing clients, Wilcox also pointed out that it would be beneficial to the adviser to explain the changes themselves.
"They are your clients. Who do you want explaining the changes?
"I think you are the best placed people to talk to your clients and explain what's going to change and what's going to happen," he said.
"It's all about you, your service and your proposition."
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