Advisers must be "very vigilant about providers approaching their clients direct" by making sure they get as close as possible to them over the coming months, a partner at RSM Tenon has said.
Partner and head of wealth management John Porteous said that the changing relationships between providers, intermediaries and clients is one of the big themes emerging from the industry following the Retail Distribution Review (RDR). He said: "There has been a recent move on renewal commission with several providers reportedly putting a hard close on it. This is a significant change in stance. "With this in mind, we clearly need to monitor providers - do they want to get closer to our clients? We need to make sure we are providing those private clients with services that demonstrate ...
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