RDR

Advisers who hold higher minimum qualifications will be more competent and less likely to make mistakes resulting in the recommendation of unsuitable products, the FSA says today.

The FSA says it could transfer responsibility for monitoring professional standards to individual firms - providing the industry can persuade the regulator of the merits of such hands-off regulation.

The FSA today unveiled plans to develop its capability to monitor individual advisers.

The FSA has said the cost of establishing internal professional standards could be more than £5m.

The FSA proposes a system of co-operation between the regulator and accredited bodies to ensure advisers are meeting its professionalism standards post-RDR.

The FSA has ruled out allowing provider factoring on group personal pensions (GPP) advice despite admitting concerns over up-front costs.

The RDR has created some serious issues for adviser firms looking to acquire a business and those looking to sell up for their retirement, says Almary Green's Carl Lamb.

The FSA today confirmed it is banning commission on sales in the Group Personal Pensions (GPP) market from 1 January 2013.

With the deadline for compliance with the RDR a mere 30 months away, how ready are financial advice businesses for the changes it brings?

Chris Smallwood, CEO of 2plan Wealth Management, explains why the FSA’s clarification on trail commission will help advisers transition for RDR