How the world has changed for advisers and DFMs over the past 15 years

Looking back at the last 15 years of financial advice and investments in the UK, we surely have to start with the immense impact the Retail Distribution Review (RDR) has had on the sector.   Not only did it push the financial advice market towards becoming the profession it is today, but it also transformed the way advisers interact with the investment and fund management industry. Two data points demonstrate how advice firms shifted their behaviour post-RDR as the shift to the outsourcing model grew rapidly over the past decade and a half. The explosion of multi-asset funds in the...