retail distribution review

The Retail Distribution Review could "raise the bar" of adviser qualifications, and restrict the choice available in an attempt to create a comparable standard across the country.

The Financial Services Practitioner Panel has warned the FSA not to disrupt the current distribution system without proposing a "viable alternative".

The FSA will take into account calls from the ABI to ban trail commission for IFAs as part of its Retail Distribution Review, but will also consider the views of other industry bodies.

The Financial Services Authority is looking at how regulation is acting as an 'unecessary barrier' to market development, and plans to outline its findings at the unveiling of the results of the retail distribution review in June.

Initial feedback on the retail distribution review supports a move away from the focus on products towards the range of services which reflect consumer needs, says the FSA.

The introduction of a generic advice service combined with the retail distribution review could change the regulatory landscape to allow IFAs to ‘focus' their advice and not have to complete unnecessary paperwork, according to the FSCP.

The majority of financial advisers believe IFAs will eventually be wiped out by the Financial Services Authority's retail distribution review, according to an IFAonline industry straw poll.

The Financial Services Authority has announced which industry figures will lead the working groups of its retail distribution review, launched in June last year.

So, four weeks on, what's changed? To pick out two of the biggest news items is a bit tricky as there seems to have been a lot going on. On that basis I'll grab the two things that tickled me the most.

The Financial Services Authority has attacked the retail financial distribution model for being unreliable, untrustworthy and failing to establish long-term relationships.