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Home > Regulation > RDR News & Analysis

Special Report

RDR Update - May 2012

Published by Financial Adviser | May 30, 2012

But there is still a lot of uncertainty, not least whether advisers know whether to go independent or restricted.

There is a lot of debate as to whether financial advisers will lose their edge if they drop their independence title, and questions arise over how difficult it will be for advisers to keep that tag.

Some would argue that it is not that difficult, and that it is something worth fighting for, but it is not helped by the FSA moving the goalposts with alarming frequency. For some advisers, getting ready for the RDR has been relatively easy, especially if they already gained level four qualifications and made the move to a fee-based business some time ago. For others, it is a challenge - some are wondering whether it is worth their while to gain additional qualifications if they were planning to retire in a few years time. Yet the evidence suggests there will not be the widespread selling-up of businesses predicted.

For those that are staying, the RDR is becoming more real, and advisers’ minds are becoming focused on getting to the point when they can get their statement of professional standing so to be ready for the RDR next year.

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