RDR has put many through the quandary of trying to decide if they should be independent or restricted and try to establish what their new business model should be.

Many have been forced to rationalise their clients, now that the time allotted to each client has to be carefully managed, and advisers can no longer rely on commission.

They have also had to revise their qualifications and take further exams to make sure they comply with the new regime.

The motive behind RDR was all about raising standards and making sure that clients get a better service. But in the run-up to RDR some claimed it might have the perverse result of leaving some clients without any advice at all, as advisers could no longer justify their business.

Others have complained about the disappearance of the independence tag, and whether many would take to the restricted tag.

Some predict that the restricted tag will continue to increase its share of the market, and independence will reduce, as advisers struggle with the demands of independence and realise that restricted will not be so difficult to market to their clients.

One thing that is certain about RDR is that advisers have never been busier. They now have continuing professional development requirements to keep up to date with, and many more regulatory requirements to deal with, as well as keeping track of adviser charging and all the changes that has meant to their systems.

Hopefully in the long term, it will be for the good of the industry.

Melanie Tringham is features editor of Financial Adviser