Opinion  

RDR – robbing the poor to pay the rich

Nigel Tinsdale

The retail distribution review has been a complete success. The people who thought it up knew exactly what they were doing.

The point of the City of London is to extract money from the masses (poor people), to make the very rich even richer. The RDR has strengthened this aim. The very rich have far more protection than they ever did, they have better qualified advisers and they can now pay them less. The poor on the other hand are being corralled into higher charging products and funds through direct offerings and multi-funds. The ones who cannot invest are also catered for in the lending world as they pay many hundreds of times more for borrowing money than the better off. If the purpose was to make the rich richer, which they certainly have over the past few years, it is job done – a success.

Nigel Tinsdale

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Financial Adviser,

Tinsdale Investment Management Ltd,

Bewdley,

Worcestershire