RDR: Up to 60% of advisers face new costs

The FSA's latest RDR consultation paper sets out new proposals to create a new in-house governance structure to ensure advisers achieve a greater level of professionalism. It also proposes professional bodies, registered with and overseen by the FSA, should play a greater role in helping their members meet its new professionalism requirements. This means adviser firms not currently members of a professional body will be under more pressure to join, despite membership fees ranging from approximately £60 to £175 per adviser. Of the 60,000 existing advisers the FSA estimates to be wit...