IFA champion Garry Heath is set to visit Canada in November to give regulators, politicians and advisers his insights into the effects of RDR.
The author of the Heath Report, which concludes that more than 20m people could end up without access to financial advice because of the RDR reforms implemented on 1 January 2013, will speak to Advocis, an industry body for Canada’s IFAs, in autumn before meeting others around the country.
The visit, including the conference on 5 November, is aimed at giving an insight into the reforms, as Canada has started to consider implementing a similar form of regulation.
Mr Heath, who founded the Association of IFAs, which eventually became the Association for Professional Financial Advisers, said: “Canada is under pressure to bring in its own version of RDR, so I will be speaking about that.”
In August, Mr Heath unveiled his Heath Report, which looks at the impact of RDR on IFAs and their clients. In it, he identified four main consumer profiles: seriously advised, regularly advised, transactionally advised and unadvised, and discussed the need for advisers to meet the requirements of each group.
