RDR 'will only hit firms masquerading as independent'

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Only adviser firms "masquerading" under an independent banner while colluding with life and pension providers have anything to fear from the RDR, says Nucleus Financial Group's David Ferguson.

The chief executive of IFA-owned wrap platform Nucleus says gloomy interpretations of the FSA’s proposals - particularly towards smaller firms - overlook the fact most quality UK IFAs are small businesses which for years have provided high quality ongoing advice. He says the RDR only poses a threat to small firms which claim independence but collude with life and pensions providers to distribute their products. He argues there can be no true independence in selling products for a small group of providers in return for commission, particularly when that commission is often leveraged in ret...

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