View more on these topics

Transact says RDR has sparked distribution ‘war’

Ian Taylor Transact 440

Transact chief executive Ian Taylor says the RDR has triggered a distribution “war” with providers scrambling to buy adviser firms.

Speaking at the Institute of Financial Planning annual conference in Newport last week, Taylor said: “It is like a war, we have this ancient empire of product providers going into war with the ancient empire of product distributors. We are reaching the end of the cold war of words in Canary Wharf. January is when the shooting begins.”

He believes life offices face the most dramatic change as a result of the RDR.

Taylor said: “The life companies are more used to buying and controlling distribution than the asset managers and the platforms. So as we move into this brave new world, they are not going to give up easily.

“There is going to be a provider scramble to buy distribution. Everyone will say there is not, but in fact it has probably already started. These are the opening shots of the hot war. They will be buying up IFA firms left right and centre.”

Jacksons Wealth Management managing director Pete Matthew says: “It would be a fairly short-sighted adviser that would align themselves with a life office. The traditional life office is dying and I cannot see that reversing.”

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. It was worth going to the IFP conference just to hear this talk – especially the bits on hidden fund states – that the nightmare of complexity that will result.

    I hope someone from the FSA heard it – as they don’t seem to realise the systemic risk that unit rebates will impose on the industry – but I’m not holding my breathe.

Leave a comment

Close

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

Email: customerservices@moneymarketing.com