Majority of IFAs back TSC call for RDR delay

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The overwhelming majority of independent financial advisers (IFA) support the Treasury Select Committee's (TSC) call for a 12-month delay to the implementation of the retail distribution review (RDR).

The MPs urged the Financial Services Authority (FSA) to consider the delay last month, saying it would give IFAs more time to reach QCF Level 4 and could increase the number of firms and advisers making the transition to the new system. New Model Business Academy (NMBA), the not-for-profit arm of SimplyBiz, surveyed about 500 advisers and found 79% agreed with the proposed delay. Lee Travis, head of business at NMBA, said the result of the survey was "not a surprise", adding concerns centred around the need to avoid a "deterioration to the level of service" offered to clients while me...

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