Simon Badley, director of intermediary at Aviva, says the industry needs to work together to change the client view of financial advice.
The recent debate in the House of Commons shows that the RDR is still very much a hot topic in the IFA community and will remain so for quite a while. Among the objections raised by advisers is the concern the RDR will actually restrict consumer access to advice. The fear is that, once faced with a transparent adviser charge-based model, consumers will no longer wish to pay for financial advice. While there are valid arguments around this point, especially in the current age of austerity where consumers are tightening their belts, in reality the need for advice has never been stronger...
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