Assessing RDR: Ten years on from landmark advice reforms

31 December marked a decade since the introduction

clock • 4 min read

Landmark reforms laid down by the Retail Distribution Review (RDR) were introduced ten years ago. Jonathan Sandell assesses its impact on advice...

How has the advice landscape changed in ten years? And did RDR really create a consumer advice gap? Even if the answer is yes, RDR should still be viewed as a needed reform that positively reshaped the advice industry. It moved the needle on its key aims: more transparent charges; unbiased advice; and greater professional standards. Indeed, RDR can be seen as the advent of a stronger regulatory focus on customer outcomes that continues today in the shape of the Consumer Duty. It also catalysed a trinity of trends towards consolidation, centralised propositions and holistic advice. Whi...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Administrators appointed at alleged £23m unauthorised investment scheme firm

Administrators appointed at alleged £23m unauthorised investment scheme firm

FCA issued High Court proceedings against Concept Capital Group last year

Jen Frost
clock 13 March 2026 • 2 min read
Failed financial advice firms tracker

Failed financial advice firms tracker

Firms that the FSCS has confirmed as failed since the start of 2023

Professional Adviser
clock 12 March 2026 • 1 min read
Advice firm and alternative investment fund manager declared in default

Advice firm and alternative investment fund manager declared in default

Chancery Partnership and MCI Global Investment Advisors

Jen Frost
clock 09 March 2026 • 2 min read