Opinion  

Clarify things with the client

David Curley

In reference to Rory Percival of the FCA, and his comments about the RDR (FTAdviser.com, 21 October), it is all about the conversation with clients. Before RDR some advisers hid the commission from clients; now we should all be discussing how we are paid, and how much, before we start working for the client.

The conversation should be a transparent adult discussion between the client and the adviser, and it should be about service, not product.

RDR was a step in the right direction, although the forced diploma was wrong. And not only is the fudge that has gone on in respect of independent/restricted confusing to the client; but also certain firms appear to want to hoodwink clients into believing they are ‘independent’ when they are not.

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Rory Percival shoots from the hip. I just hope the MPs who are currently giving the FCA a hard time will push for a full independent review of the FCA’s conduct over the last five years.

David Curley

Financial planner,
Logic Wealth Planning,
Heywood,
Greater Manchester