In the third of a six-part special on preparing for RDR, Danny Wynn, director of platforms and policy at Legal & General, examines what going 'restricted' really means.
The implementation of the RDR is now only 15 months away. Sure, there are a few key questions outstanding (legacy and VAT) but these cannot be used as excuses for not pushing ahead with transitioning our businesses. The new rules are here, adviser charging IS happening for investment related advice. So is the introduction of tougher requirements for independence and new status disclosure. And let’s not forget new qualifications and increased professionalism requirements, there is surely no doubt they are happening too. But what does this really mean for IFA businesses? Conventional wisdo...
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