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The Retail Distribution Review

RDR FSB Presentation
by

Chris Daems

on 5 November 2015

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Transcript of The Retail Distribution Review

Financial Advice, Positive Change and how it impacts you
Why is financial advice changing?
Financial Advice, Positive Change
and how it impacts you.
What's changing?
When did it happen?
How does it impact you?
Chris Daems
Why is Financial Advice Changing?
Trust
Transparency
Clarity
What's Changing?
Scope
Qualifications
Cost
of
Advice
Cost of Advice
Scope of work
Qualifications
Minimum Standards have Improved.
If an adviser didn't qualify they couldn't continue in business post RDR.
The effect has been a reduction in advisers
Good news for both individuals and the profession
Independent
Restricted
Financial Advice for investment advice
has never been free.
Commission was paid from a recommended
product. However client paid via charges...
This meant that the client paid...but how
much(and for how long) wasn't always
entirely clear.
This 'commission bias' has now been removed
The "Old World"
Product
Advice
The "New World"
Advice
Product
The Key Question
VALUE
When did it Happen?
31st December 2012
How does it impact you?
Existing arrangements
Reviews
Clarity of value
Transparency
Thanks for Listening
Any Questions?
.principalifas.co.uk
@Chrisdaems
08450 568 959
Chris@Principalifas.co.uk
Full transcript