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Free Webcast - Educating clients on RDR – whose responsibility is it?
Categories: Business Transition site, Business Transition - Panacea Comment, Webcasts, IFA Letter of the Week, PanaceaIFA Webcasts
On 2nd February at 1.00pm Derek Bradley, CEO of PanaceaIFA conducted a FREE webcast via Thought Leadership Live.
The webcast looked at FSA assurances to the IFA community that RDR is truly in the interest of the consumers with the benefit of having digested the results of oursurvey asking IFAs if they believe their clients see the RDR proposals as a benefit as well as measuring how much they
With over 740 responses it was clear that consumer awareness is very low. The presentation explored some of the survey responses as well as illuminating the perceived client attitudes and how they can be tackled.
So if you missed it live, join Derek Bradley, Richard Hobbs, Director, Regulatory Consulting, Lansons and Alan Lakey, IFA, Partner at Highclere Financial Services as they discuss key points of our RDR survey and whose responsibility it is to educate your clients. They will also comment to the survey's findings on:
- the elimination of bias in the market;
- ensuring the adviser is the true agent of the consumer;
- clarity over the costs of advice;
- appropriate qualifications for financial advisers.
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Article last updated: Feb 2, 2012
Derek Bradley, CEO
Sarah Paul, Marketing Director
James Bradley, Head of e-Relationships
Comments
All clients care about is getting decent cost effective advice, they are not interested in the rules and regulations surrounding it. If hitherto they have been unaware of costs that is down to us not disclosing properly; in which case the effects of the RDR on more robust disclosure will have achieved what the Regulator set out to do. I do concede that in these circumstances those advisers who have been less than forthright on this topic will find that they have a lot of explaining to do.
If research shows that consumers will only be prepared to pay an average of £155 for a financial review and if charged on an hourly basis, consumers would be prepared to pay an average of £39 an hour for advice they are in for a shock with RDR.
So who delivers the shock message?