In March, three months into the Retail Distribution Review (RDR), IFAonline.co.uk spoke to four advisers with gripes about how the new rules had affected them day-to-day. As the year draws to a close, we went back to ask them: have things improved?
Most advisers' concerns centred around adviser charge facilitation and the actions of under-pressure life companies to maintain business.
See the original article (complete with original gripes) here. But how have things fared in the second half of 2013?
Ruth Whitehead Associates principal Ruth Whitehead
"Things have gradually improved over time. People are feeling their way forward.
We revisit advisers' early RDR concerns - have things changed?
"My problem is with the Financial Conduct Authority (FCA). FCA papers need to be written in plain English. The written documents are dense and difficult.
"I spend most of my time translating the regulator's jargon for my clients. I think the regulator is not sure what it's doing. I've been an IFA for 20 years, I've seen three other regulators discredited and disbanded.
"It's as sure as eggs are eggs that in the next five years the FCA will be discredited and we will get something else, which makes me a bit depressed. I don't want to hear more doors slamming after the horse has bolted.
"I don't mind being regulated but I want to be better regulated. So far I see no evidence the FCA will be any different to its predecessors. Good regulation is a clear vision of what consumers want. Regulators look at things from their end of the telescope but should look at it from the consumers' end.
"In 2014 I would like consumer focussed groups to be much more listened to by the regulator."
Capital Asset Management chief executive Alan Smith
"All in all I would say that the situation has improved, although there remain inconsistencies between providers and platforms.
"Adviser charging remains complex as the choices of which tax wrapper is used to fund the fee will have consequences. So actually agreeing how to meet the fee costs is now an integral part of the advisory process, although clients still prefer to use their investments to fund fees rather than direct payment.
"There remain some challenges in reporting accurately through the RMAR report to the FCA, although further guidance has recently been issued.
"I have seen a move towards fixed fees and away from percentage of funds and expect this to continue together with ongoing downward pressure on costs - I suspect the days of a standard 3% +1% model may be behind us."
Forty Two Wealth Management partner Alan Dick
"2013 has been our best year ever. We had already geared up for the RDR. As each year goes on that work provides dividends. We've been fee-based for ten years so our processes are well embedded.
"The RDR has been a catalyst for clients to realise that they were dissatisfied with the service they were receiving - many have looked around and have then come to us."
ARW Wealth Managers director Ian Roberts
"We're still having problems with providers. Many won't allow us to put adviser charging on older products like investment bonds, so we have no option but to leave them as trail, and we are worried this will be switched off in two years time and we will lose it.
"Our only option is to move clients and that's not best for them.
"We haven't come across providers contacting our clients about our service since March, but that doesn't necessarily mean they have stopped."
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