RDR 'won't improve consumer advice'

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 rejected t...