Dan Sullivan, founder of Strategic Coach, assesses the impact of RDR on advisers.
It is no secret independent financial advisers in the UK have a date with destiny. RDR means the end of a certain way of life for many advisers. What was formerly a three-way relationship between the adviser, the finance company that provided the products and the client, is about to end. It will be back to just the IFA and the client, with the third party competing for the right to sell its products to the adviser, with severe restrictions placed upon any inducements such as differentials in commissions or any other perks. This is an entirely new climate, and for IFAs, it will be eith...
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