Speirs: networks may have to 'tackle' IFAs to survive

Sanlam Private Wealth CEO Nigel Speirs told IFAonline that he thought an increase in the number of restricted networks would be one impact of the Retail Distribution Review (RDR). "Big networks are currently operating with very small margins and huge liabilities and taking the restricted route would help resolve both problems," he said. "Increased liabilities can come from independent advisers because they like to do what they want. [Similarly], restricted practices will see their income boosted by their relationships with providers or wealth managers." As Speirs pointed out, seve...