Assessing RDR: Ten years on from landmark advice reforms

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...