'The RDR is only partially working': The world according to IFP chief Steve Gazzard

The Retail Distribution Review (RDR) gave everybody in financial services - advisers, banks and insurers, as well as trade and professional bodies - the chance to publish their manifestos for financial advice. The Institute of Financial Planning (IFP) was among those that grasped the opportunity, setting out in late 2007 a three-pronged model it argued would both raise standards of professionalism and solve the mass-market problem. Alongside financial planners, who would be required to demonstrate competencies in ‘planning' not ‘advising' and would only work on a customer agreed remun...