Evolution guides you through RDR
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This week, Money Marketing launches a new publication, Adviser Evolution, aimed at helping our readers face the many challenges set before them by the retail distribution review.
This newspaper has been outspoken in its criticism of aspects of the RDR and will continue to campaign vociferously for sensible compromises in some areas, such as allowing genuine work-based assessments.
We hope that a level-headed and pragmatic regulator is alive to the huge consumer detriment issues which would accompany a large number of IFAs leaving the market as we head towards the 2012 deadline.
However, even allowing for sensible compromises or a change in Government, the direction is pretty clear - the industry will need to raise its level of professionalism and change its remuneration practices.
This proposed perfect storm of new capital adequacy requirements, remuneration changes, economic conditions and higher qualification requirements will be hugely challenging for many small and large firms.
Tough decisions will have to be made about future business direction. We hope Adviser Evolution will help guide you through the current deluge of marketing literature and self-serving industry debate and contribute to ensuring as many IFAs as possible are still in the industry after 2012.
The first issue of Adviser Evolution, free with this issue of Money Marketing, includes an interview with PageRussell, a firm that has worked hard to evolve its business and is willing to share the mistakes it made along the way. Adviser Evolution will also contain regular diaries from IFAs beginning or part way through the journey towards 2012.
The educational pages offer advice about exam and study techniques and include a regular diary from Money Marketing deputy editor Gregor Watt, who will be training to QCF Level 4 himself and assessing the academies and study help available.
Feedback and any ideas for future issues can be emailed to adviserevolution@centaur.co.uk
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