'Primary advice bad for industry' say 9 in 10 advisers

clock

Nine out of ten advisers think primary advice proposals in the Retail Distribution Review (RDR) will be bad for the industry, according to a Fidelity poll.

The poll asked advisers a number of questions about the FSA’s RDR consultation document and found advisers feel strongly about several key areas of the proposals. When asked if primary advice will lower standards and be detrimental to the FSA’s goals and the industry’s reputation, 93% of advisers polled agreed with the statement. Given that the FSA’s own paper admits that primary advice could result in ‘suboptimal outcomes’ for some consumers, and has received criticism from many other areas, it seems increasingly likely that the concept will be dropped. Over three quarters of adviser...

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 Your profession

Greg Moss: 'FIRE isn't anti-advice'

Greg Moss: 'FIRE isn't anti-advice'

Is ‘Financial Independence, Retire Early' the key to winning younger clients?

Sahar Nazir
clock 21 October 2025 • 5 min read
Advisers risk losing next-generation clients as 'engagement gaps' emerge

Advisers risk losing next-generation clients as 'engagement gaps' emerge

Survey finds investors value emotional reassurance and family engagement

Sahar Nazir
clock 21 October 2025 • 2 min read
Only 17% of financial advisers believe younger hires would attract more clients

Only 17% of financial advisers believe younger hires would attract more clients

Advisers under 45 generated largest proportion of personal revenue from new clients

Isabel Baxter
clock 21 October 2025 • 2 min read