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The Citywire Money guide to the RDR savings revolution

The retail distribution review, or RDR, will herald a number of important reforms that will affect everyone saving for a pension or investing in an ISA.

 

by Gavin Lumsden on Nov 22, 2012 at 17:10

The Citywire Money guide to the RDR savings revolution

The Financial Services Authority, the City regulator, is introducing a package of important reforms at the end of 2012 which will affect everyone saving for a pension or investing in an ISA.

Read our guide to what the new rules mean for investors like you.

In the video below I explain how the changes in the 'retail distribution review' will:

  • Abolish the payment of commission by financial product providers to financial advisers;
  • This means financial advisers will work for you not the product provider;
  • Financial advisers will have to pass higher qualifcations and behave more like other professionals;
  • To call themselves 'independent' advisers will have to adviser on a wider range of investments;
  • The shake-up in charges will make it easier for you to see where your money goes when you save and invest.

Read more on RDR

• The free advice myth is about to be exploded

• How to find a good independent financial adviser after RDR

Will we miss commission-biased financial advisers?

Never trust an IFA? Why advice is undervalued

Find an RDR-ready financial adviser

Looking for a qualified financial adviser near you? Citywire's Adviser Finder can help

2 comments so far. Why not have your say?

Rosco White

Dec 13, 2012 at 17:36

"This means financial advisers will work for you not the product provider;"

Errrrrr, weren't they always SUPPOSED to??!!!

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john williams

Jan 21, 2013 at 08:59

I am confused! I thought EXISTING arrangements would continue. If they don't what will happen to the 0.5% trail commission which my IFA currently gets?

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