different strokes

Stop giving this guy Steve Martin Air time

Posted by: RDRREADYSOWHAT?

Squaring the RDR Circle

RDR should hold no fears for the competent adviser. QCA Level 4 is broadly equivalent to the old advanced financial planning certificate-not particularly challenging. The adoption of a wrap will enable you to service clients properly as well as building trail income. Unfortunately the 1% mentality has forced IFA's to be price conscious and not service based. RDR will help change that. RDR is therefore a force for change for the good.

Posted by: Duncan Jones

Define POSITIVE change

Only idiots or fools are against positive change. The issue is whether forced changes of the nature the FSA make ARE positive for the Public and whether they are even vaguely fair to IFAs. The FSA do not understand the real world as they live in ivory towers with fat salaries and pensions. Though there are signs that they are starting to listen (after 22 years.) The main achievement of Regulation since 1988 has NOT been to improve the quality of advice (sadly) but to DECIMATE the AVAILABILITY of advice to ordinary people, a proud trail the FSA are continuing to blaze.

Posted by: Steve @ IFAbonus

What is 'positive'?

One of the more unsavoury techniques used by those in favour of the RDR is to insinuate that opponents are reactionary or Luddite in nature. This soundbite technique, perfected and loved by politicians, seeks to divest their opponents of credibility whilst assuming the moral high ground for themselves. Let me clear up a number of matters. Many commentators view the RDR consequences through their own private telescope, focused to project an image based on their own particular business model. Not many reflect on the fate of the consumer, at least not the HNW consumer. The RDR aims to limit consumer choice, as confirmed by consumer advocate Martin Lewis. It seeks to suggest that upgrading adviser knowledge is a panacea that will enhance consumer interaction. The ending of provider funded commission is predicated on the assumption that product and provider bias exists, when in fact two Charles River surveys confirmed that it was more perception than reality. The RDR's central arguments are anchored in the belief that the revolutionary changes will enfranchise the consumer and build confidence. Any sane observer will see this for the political fabrication that it is. Am I, Is Adviser Alliance, are most advisers against better relationships with their clients? Most definitely not, but please remember, a freedom-fighter and a revolutionary may be the same person viewed from different perspectives.

Posted by: Alan Lakey

charging fees

I have never liked the Idea of charging a client a fee for the privilage of placing buiness with me. But feel it is fair for me to receive a fee from the financial institution who I am placing the business with. As long as the client is clear about the fees my company and I are receiving. 100% of the clients that I have asked agree with this. I can't understand why anyone should disagree.

Posted by: Jonathan Wright