RDR sets out three-way split for advice

Blackmore, Nicole
June 2009
Money Marketing;6/25/2009, p1
The article reports on the three-way splitting of the financial services industry into independent advice, restricted advice and no-advised sales as set by the retail distribution review (RDR). Trail commissions or 'ongoing charges' will only be allowed if an ongoing service to the client exists, and that factoring will be banned. Robert Reid, Syndaxi Chartered Financial Planners managing director, warned that clarity of advice labels may pose a major problem for multi-channel organizations.


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