IFAs 'need to update' advice model ahead of RDR

Brett Davidson, managing director of the firm, said while the recent update from the FSA suggested there was now a move towards focusing on services which reflect customer needs, some advisers still needed to convert their models. “Businesses that have already transitioned to the new advice model have nothing to fear, and those that have started the process are also likely to meet any prescriptive change timetable,” he said. “But advisers with their heads in the sand have something to worry about.” The FSA stated in the review that it had seen “some preference for a move away from ...