Bank return to advice is a rare case of sequel eclipsing original

The banks are undeniably back in advice. In February, news broke that NatWest had agreed to buy wealth manager and financial planning business Evelyn for an impressive £2.7bn, one of the largest wealth management deals in recent years. The news was met by a not insignificant level of scepticism from financial advisers; most of whom remember the last time banks were operating on their turf. Pre-Retail Distribution Review (RDR), during the 90s and early 2000s, UK high street banks were among the largest providers of financial advice. Operating a largely commission-driven model, it wa...