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Lifesearch’s Baigrie says RDR will fail

Lifesearch managing director Tom Baigrie has rubbished the FSA’s retail distribution review and suggested it will not be implemented in full.

Speaking at this year’s Lifesearch Protection Awards in London yesterday, Baigrie said we will not see the whole RDR come to fruition, only the better bits of it.

He says the 2012 deadline will not be met with a new Government meaning certain RDR requirements will be quashed under new party politics.

Baigrie said: “One of the reasons I think RDR will fail is because it is a big business solution. It is a solution to consumer problems and regulatory problems being provided by the bigger businesses. But if you think about it, it is the world’s business that have brought the economies of the world to their knees.

“So, it is unlikely to be that future solutions are going to be the biggest business solutions. You would expect it wouldn’t you but the weight of prosperity to come is smaller businesses fighting their way through.”

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