RDR Has Had "Little Impact" on Most Advisers

Less than 17% of advisers have felt a notable impact on how they cater to clients as a result of the government’s Retail Distribution Review, which came into effect at the beginning of 2013

Holly Cook 27 November, 2013 | 5:40PM

Less than 17% of advisers have felt a notable impact on how they do business as a result of the government’s Retail Distribution Review, which came into effect at the beginning of 2013. Prior to January of this year, much had been made of the impact this regulatory change—which encompasses advisers switching to a fee-based payment model, the introduction of obligatory qualification levels and clearer labelling of ‘independent’ and ‘restricted’ advice—and the disruption it would cause the advice industry.

A Morningstar survey conducted at the Institute of Financial Planning’s recent annual conference revealed that just three of the 18 advisers questioned had seen the RDR bring about change in how they conduct their businesses. The remaining 14 advisers reported very little impact from the government’s change.

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Holly Cook

Holly Cook  is Manager, Morningstar EMEA Websites

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