Enforcement of the broadened definition of independent adviser status laid out in the RDR is likely to be "very difficult", says Tenet's distribution and development director Keith Richards.
Meanwhile, Resources Compliance UK managing director Simon Collins says "best endeavours" at a fair analysis of the market is all advisers can do when faced with the "challenge" of remaining independent post-2012. Their comments were part of a Personal Finance Society live debate on Labelling and Disclosure yesterday. Answering questions from advisers wanting to clarify the difference between the new and existing definitions, Richards says: "Independent in the future will be more demanding. It has to encompass a broader range of investment advice than is currently evident in the marke...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
