Royal London has seen inflows return to its asset management unit in H1 and pointed to Retail Distribution Review (RDR) implementation as a key driver of growth across the business.
Net new business at Royal London Asset Management stood at £308m in H1 2013, the group said, compared with net outflows of £310m in H1 2012. That helped drive up total funds under management in its asset management and administration businesses, from £49.8bn at the start of the year to £51.1bn as of 30 June. "RDR has fundamentally changed the adviser landscape for savings and investment business," said Royal London group chief executive Phil Loney (pictured). "There is now no potential for commission levels to bias new product advice given in the market, and our focus on the quality of p...
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