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RDR will do little for advice

Retail distribution review proposals will do little to improve consumers’ appreciation of the value of advice, warns Zurich.

Zurich UK Life intermediary sales director Richard Howells says he is not convinced that the RDR proposals will improve consumer confidence.

He says: “The FSA needs to set out proposals that help the consumer clearly see the value of taking advice as well as what options are available if they do not take advice. How are the current proposals going to meet these objectives?” He says consumer research is needed to understand how consumers can better engage in financial services.

The regulator says it will include results of its consumer research in the June RDR consultation paper.

Paladin Financial Services managing director Tim Purdon says: “Consumers are going to be even more confused about who is offering what services. How will they be able to understand the different types of advice?”


Premier ship

Premier started life in the late 1980s as the fund arm of an IFA business, subsequently transforming into a fully fledged asset manager running almost £2bn at its peak.

The meaning of advice

It is time to scrap retail financial services regulation altogether and instead spend the billions saved on educating consumers as to the facts of financial life. Retail regulation has failed by every measure thanks to a flaw in its first design.

Winding road

I have been contacted by an insurance company as I am one of two remaining members of an executive pension scheme and they want to wind up the scheme. What should I do?

Britain is heading for a 90bn hole, says IFS

Lost tax revenues and higher social security costs will leave a 90 billion hole in the state finances, according to the Institute for Fiscal Studies (IFS). The independent research organisation says the Treasury forecasts imply that the crisis has dealt a permanent hit to Alistair Darling of about 6.5% of national income. Gemma Tetlow, a […]

Parental leave and pensions

Fiona Hanrahan  – Senior Product Insight and Technical Support Analyst We are often asked how parental leave impacts workplace pension schemes in terms of funding in general, auto enrolment and salary exchange. This article will explain each of these. How does parental leave impact the funding of workplace pension schemes? A member of a defined […]


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