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Reeve says RDR will not force out PosSol IFAs

Positive Solutions chief executive Jim Reeve insists that none of its IFAs will be forced to leave the firm or the industry as a result of the RDR.

Last week, Aegon UK announced that distribution arms Positive Solutions and Origen recorded a £1m combined profit in the third quarter. Reeve says the firm is focusing on developing its RDR proposition, which will be launched on January 27.

Reeve says: “It is my strong belief that no partner from Positive Solutions will have to leave the industry as a result of the RDR. People might have to change their roles but they will not have to move from Positive Solutions and they will not have to exit the industry.”

Despite his apparent bullishness over the RDR, Reeve admits the firm has “a lot of work to do” in the next 10 weeks. He says: “Some IFAs may choose not to be IFAs and may adopt different roles so we are working on what those segments will be but we are not going to chop up the business and reconfigure it.”

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