Assessing RDR: Ten years on from landmark advice reforms

31 December marked a decade since the introduction

clock • 4 min read

Landmark reforms laid down by the Retail Distribution Review (RDR) were introduced ten years ago. Jonathan Sandell assesses its impact on advice...

How has the advice landscape changed in ten years? And did RDR really create a consumer advice gap? Even if the answer is yes, RDR should still be viewed as a needed reform that positively reshaped the advice industry. It moved the needle on its key aims: more transparent charges; unbiased advice; and greater professional standards. Indeed, RDR can be seen as the advent of a stronger regulatory focus on customer outcomes that continues today in the shape of the Consumer Duty. It also catalysed a trinity of trends towards consolidation, centralised propositions and holistic advice. Whi...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Agile IT needed as rapid regulation change becomes the norm

Agile IT needed as rapid regulation change becomes the norm

'Gone are the lengthy consultation and rule-setting cycles that often took several years'

Paul Muir
clock 15 April 2024 • 6 min read
Leveling up the playing field when it comes to picking skilled persons

Leveling up the playing field when it comes to picking skilled persons

Given the prerequisite for accuracy, a rigorous selection process is essential

Richard Farr
clock 15 April 2024 • 4 min read
A practical way forward: Utilising hybrid to close the advice gap

A practical way forward: Utilising hybrid to close the advice gap

Will the FCA's advice/guidance review increase access to advice?

Chet Velani
clock 02 April 2024 • 6 min read