The retail distribution review (RDR) has provided a once in a lifetime opportunity to reshape financial services, according to Standard Life UK chief executive Paul Matthews.
Speaking at the Association of British Insurers (ABI) conference on the retail distribution review (RDR), Paul Matthews (pictured) said the improvements in technology, professional standards and transparency that the RDR would bring meant advisers and providers had never been in a better position.
‘I see the changes being made by the regulator as a once in a lifetime opportunity to re-shape our industry to deliver outstanding outcomes for customers,’ he said. ‘But we need to work together.’
‘We are at a crossroads. We can work together to deliver greater access, engagement and value for consumers, but if we allow self-interest to dominate and do not grasp this once in a lifetime opportunity, the results for all, particularly the customer, will be extreme for some sections of society.’