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Transact says RDR will spark introducer move

Transact says advisers who will struggle with higher qualifications may become client introducers in the wake of the retail distribution review.

Head of marketing Malcolm Murray says advisers who refuse to take the exams required under the RDR have three options – take a strategic management role and recruit graduates to give financial advice, join a direct salesforce or become an introducer.

He says: “They can carry on running the firm but the principals will take on a more strategic role and bolster new blood by recruiting graduates.

“They can become an introducer and for that the acquirer of the lead will carry on paying the introducer a percentage of the recurring income that their client book generates plus a share of initial fees for any new clients they might introduce. Or, thirdly, they will join a direct salesforce and they will keep receiving commission from the provider and be a representative.”

Murray believes the most popular option will be to become an introducer.


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