Provider-owned advice expansion 'not what RDR intended', says Nucleus

Ferguson (pictured) said the increasing phenomenon had not helped bring better products to market and merely served to "flog more funds". His comments followed the news that Aviva has intentions to expand its financial advice arm "nationwide" by the end of 2017. As well as Aviva, other providers have been expanding their advice propositions since the RDR, such as Old Mutual Wealth's Intrinsic advice business that has grown to a total 3,700 advisers, while Standard Life's 1825 advice business has also been making acquisitions. Ferguson said: "We've not seen cost come down, we've not...