The RDR could lead to the term ‘adviser' being used exclusively for firms rather than individuals as well as the launch of new 'advisory chambers', according to AIFA.
It a new report Advice Horizons: Plotting a course through the RDR, AIFA says: "One of the changes the RDR may bring about is that the term "adviser" becomes exclusively used in connection with the firm and other titles and descriptions are applied to those who work within it (with differing employment contracts and statuses)." An early signpost along this "journey" is the different positions firms are adopting about client "ownership", it says. "Clients are increasingly considered to be the client of the firm and not the individual adviser, as the firm takes full compliance responsib...
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