'Penny hasn't dropped' for advisers on RMAR issues

Barry Pitfield managing director at financial planning software provider JCS, maintains that the rules around 'Section K', a new segment added to the RMAR to reflect the incoming adviser charging rules, are unworkable, making it extremely difficult for firms to accurately report their income. He states that it is impossible for this section of reporting to be done accurately. He said: "Different software houses are taking different approaches, none of which can fully meet the FSAs unworkable requirements." "Unfortunately, the penny hasn't dropped for most advisers. There is so much in...