Billingham: Small firms could be the real RDR winners

Smaller firms have proven they have a place in the post-RDR world and, in what he said may be an "unintended consequence" of the review, their value is now being recognised by the regulator, the Phil Billingham Partnership director (pictured) said. Judging by recent developments and the rhetoric coming from the Financial Conduct Authority (FCA), the industry is headed towards a "sea change" and "real shift in attitude" towards smaller firms, according to Billingham. For instance, in the FCA's paper on delivering independent advice, out in March, much of the 'good practice' guidance wa...