Clive Briault, the former MD of the FSA's retail business, says it could be tough for adviser firms to meet the 2012 RDR implementation deadline, especially if they have not started preparations already.
However, he is still supportive of the RDR proposals which he helped develop and has no doubt that improving professional standards and introducing adviser charging is the right way to go for the industry. "The key outcome is to end up with a higher standard of advice in the country that people are more trusting of and more comfortable with," he says. Since leaving the FSA in April 2008 with a huge £380,000 payout during the fall-out from the Northern Rock debacle, Briault has seen at first-hand the impact of the RDR on adviser firms. He is currently non-executive director of Horsham-...
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