The arrival of RDR has focused attention on "direct to consumer" propositions but regulatory uncertainty is holding back developments which could be beneficial to consumers, says Bruce Moss.
Before the arrival of RDR the general consensus was that it would no longer be viable for financial advisers to give advice to many consumers. A reluctance to pay fees combined with the high cost of complying with the regulatory requirements for advice was thought to make it uneconomic to provide advice to the mass market. Most of the banks have shut down their bancassurance businesses and many adviser firms have segmented their client bases and focused their attention on those clients who are willing to pay for an on-going advice service. So what is to become of the masses? As thin...
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