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Broker Talkback

Are you happy with the new-look RDR?

Yes 88%
No 12%

Yes

“It is going to be better for the majority of advisers because it allows more people to be involved in the advice process.”

John Fachiri, sole trader

No “On one hand, the FSA unbelievably has some sense in trying not to push business to bancassurers but on the other hand it is stipulating that we must be party to an exam culture which will only further the cause of the CII.”

Alan Thompson, Alan Thompson Financial Services

Yes “It is important to gain a certain level of qualifications and for IFAs the separation of advice from sales is a good thing.”

Jenny Davies, Sherwin Insurance Services

Yes “Largely, I am happy with it but it is just surprising that it has taken so long to get here.”

Chris Hindle, FP Consulting

Yes “I definitely agree that one tier for advice, which is whole of market and independent, should be split out from the sales category. But as for achieving the minimum level of qualifications, it depends on whether they allowed a decent level of time to reach it, also bearing in mind that many advisers are on the mature side.”

Timothy Clarke, IFP Insurance Advisers

Yes “I support the call for a clear separation between whole-of-market advice and sales. I think that there needs to be clarity for the consumer.”

Chris Backhouse, Fraser Backhouse & Co

Yes “I am happy that tied and multi-tied advisers will not be able to call themselves independent. They do not give proper advice to clients so they should not be called advisers.”

Ivan McKeown, Ivan McKeown Financial Services

Yes “It is a reasonable, common-sense approach. Whether consumers will understand it remains to be seen but it is definitely a step in the right direction.”

Keith Thomson, Blackadders

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