FSA panels say advice will suffer post-RDR

Speaking before the Treasury Select Committee, the Financial Services Consumer Panel (FSCP), agreed with the Financial Services Practitioner Panel's (FSPP) assertion that financial advice will be less-widely available in the post-RDR world. At the same meeting, the Smaller Businesses Practitioner Panel (SBPP) also questioned the wisdom of the FSA's long-term goal to require advisers to achieve a degree-level qualification. When asked what the effects of the RDR would have on financial advice in the UK, Nick Prettejohn, chair of the FSPP, says he has concerns. "I think there is a risk ...