RDR 'won't improve consumer advice'

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A POLL of advisers has revealed widespread dissatisfaction with the Retail Distribution Review (RDR).

Following its publication by the FSA on June 27, Fidelity International polled over 500 firms. More than 90% of them said the proposals would not deliver improved consumer advice. Further adviser concerns were revealed by the poll. While the FSA has proposed that any adviser who receives a fee can claim to be independent, even if his service is limited to a range of simple products, 95% of poll respondents disagreed. They said only those who consider the entire market should be able to adopt the independent label. A majority of those surveyed also reje...

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