View more on these topics

Axa Wealth: Public needs more help to understand RDR

Axa Wealth chief executive Mike Kellard has warned that not enough is being done to make consumers aware of how financial advice will change after the RDR.

Speaking to Money Marketing, Kellard compared the current lack of consumer publicity around the RDR with the lack of information about polarisation when it was introduced in 1986.

He says: “When polarisation came out, it probably took 10 years for consumers to understand the difference between a direct salesperson and an IFA. We are going to do something equally as dramatic and there are no plans to publicise it.”

Kellard is concerned that clients will not know the difference between IFAs and restricted advisers. He says: “They will not know that advisers are better qualified or that the charging structure has changed to be more explicit, with no opportunity to be hoodwinked by hidden charges. Without knowing all of that, their perception will not change.”


News and expert analysis straight to your inbox

Sign up


There is one comment at the moment, we would love to hear your opinion too.

  1. Not only did polarisation/depolarisation turn out to be a wasted opportunity of failed regulation, over 20 years later the majority of the public still will not know or care but would be happy to buy their insurance and savings from the nice man from the Pru or an IFA…………….sady one is now extinct and the other is an endangerd species.

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm