Barry O'Dwyer, Prudential UK deputy CEO, said he expects the post-RDR mass market advice gap to be filled by online personalised recommendations, like those used by web retailer Amazon.
Visitors to Amazon’s website who click for information on an item are also given details of purchases by other customers who bought that product. The system aims to provide personalised recommendations based on the buying habits of people with similar interests or needs. O’Dwyer warned that what works for a bookseller is no substitute for professional independent advice when it comes to finances. However, he said he worries about the chunk of consumers who will be left unadvised if an expected 20% of IFAs leave before the 2012 RDR deadline. “It is hard to argue that such a situati...
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