People have little awareness of the Retail Distribution Review (RDR) despite grasping the importance of financial planning, research has found.
Defaqto's latest survey has shown 36% of advisers do not believe their clients understand how they will be paying for financial advice from 1 January. Some 60% of the representative sample of 165 advisers polled, meanwhile, claim the general public are completely unaware of the legislation change and the impact it will have. The research added 39% of advisers believe the public are aware of the RDR but do not fully understand its implications. Yet a higher proportion of advisers (83%) said their clients are focused on long-term financial planning and understand the importance of finan...
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