View more on these topics


There is nothing like a deadline to focus the mind. There is just one year to go until the FSA expects full compliance with the RDR, which may induce a warm and fuzzy feeling in those that see the exhausting process of transition finally coming to a close or blind panic in those who have yet to re-engineer their business.

The reality is that most businesses fall somewhere in between, not as far along as they would like to be but not at the start of their journey either. However, early findings from a benchmarking survey from Taxbriefs that we will be featuring in the magazine during this crucial transition year shows that many advisers are not as far along the route to compliance as they think they are. David Lees introduces the survey this month and we will be reporting on its findings in our next edition and online.

This month’s issue demonstrates how some of the biggest and most successful companies of the pre-RDR world are adapting. Sometimes it is these very businesses that have the biggest hill to climb. Whitechurch Securities, for example, has had to build a new mindset among its advisers but energetic leadership has helped pull it through to Chartered status.

Equally, Simon Chamberlain will be associated in many people’s minds with some of the largest and most successful pre-RDR advisory groups but is now building a different kind of business with Succession. He talks about how advisers need to “corporatise” their business, even if they are only preparing themselves for an exit. No one wants to buy a completely non-transitioned business. Two of Succession’s adviser groups also give their individual experiences of transition.

Ultimately, for those with a long way left to go, it is easy to be daunted into paralysis. But it is worth quoting Confucius that a journey of a thousand miles begins with a single step. Planning and processes are vital but so is action. It is time to get busy.

Cherry Reynard, Consulting Editor, Adviser Evolution



Sants says he never wanted to head FSA

SA chief executive Hector Sants says he never wanted to head the regulator and is only in the role because he was persuaded to apply. Sants was quizzed this week by the Treasury select committee over the regulator’s supervision of Royal Bank of Scotland in the run-up to the bank’s near collapse. Sants told MPs […]


US set to tone down Fatca requirements

The US is set to rethink its rules over the Foreign Account Tax Compliance Act after concerns were raised that forcing overseas institutions to report details of their US clients directly to the Internal Revenue Service may breach privacy laws. In its latest set of regulations, the IRS is set to narrow the focus of […]


IFS: Public sector pension reforms save ‘little or no money’

The Government’s proposals for public sector pension reform will save “little or no money” in the long-term, research suggests. A report by the influential Institute for Fiscal Studies says concessions made by ministers following protracted negotiations with trade unions means the costs associated with the new career average schemes will be broadly similar to the […]


News and expert analysis straight to your inbox

Sign up


    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