View more on these topics

Phased delivery for RDR

Certain aspects of the retail distribution review, such as adviser charging and prudential requirements, are likely to be phased in over a longer timeframe, according to Money Marketing RDR debate panellists.

Speaking at the event at Grocers’ Hall in the City of London last week, Positive Solutions chief executive Jim Reeve said that the parts of the review which will have an impact on firms’s cashflow could be extended past the 2012 deadline.

Reeve said: “I think the IFA community will be well placed to implement a number of the changes. I think the challenge of cashflow and how it impacts companies is a real consideration so it may well be that some aspects can be phased in over a longer period.”

Ernst & Young financial services partner Shaun Crawford said while the qualification deadlines are likely to be met, adviser-charging and higher capital adequacy requirements are not.

He said: “I am not sure the capital adequacy rules will come in as fast as expected, keeping in mind the economic issues with small businesses.”

Sesame chairman Ivan Martin told delegates that the advice sector should not be calling for a delay to the RDR deadlines if it wants the FSA to view it as progressive and dedicated to raising professional standards.

He said: “I do not think that we should be crying from the IFA community to delay the RDR. I think it is almost playing into the FSA’s hands. They are almost looking for the IFA community to kick back and say they are not progressive, they are not going forward and they are not looking at the new professional qualifications. I think we should be more positive about it.”

But he added: “I have seen nothing from the regulator in terms of an impact analysis and the business case that goes with the RDR. It is important to do an impact analysis so you can see if the outcome looks a better place or a worse place. If it looks a better place, what is the cost of that better place?”


Aegon targets pension funds

Aegon’s equity high alpha fund is aimed at pension and institutional investors seeking to maximise returns and access to the AEGON equity team through a pooled fund. The fund manager is Peter Shaw, who currently manages the firm’s UK tactical pension fund.

Pension fund deficit jumps to £228bn

The aggregate funding position of the UK’s defined benefit pension funds worsened to a deficit of £218.7bn at the end of February from a deficit of £190.6bn the previous month.

Axa launches blue chip fund

AXA Framlington has recently launched the UK blue chip equity income fund. This was previously the UK equity income fund prior to the fund rationalism programme, which AXA Investment Managers has been implementing over the past year.

Flexible reversionary trusts and estate planning

The suitability of different estate planning solutions will depend on the individual’s own circumstances, needs and objectives. When considering the different solutions available there is a trade-off between inheritance tax (IHT) efficiency and access. Overall a flexible reversionary trust provides a greater level of flexibility than a discounted gift trust and can offer individuals a […]


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