Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at

Cazenove reveals it will be independent post-RDR

by Danielle Levy on Nov 29, 2012 at 09:38

Cazenove reveals it will be independent post-RDR

Cazenove has confirmed its private client business will retain its independent status in the post-retail distribution review (RDR) world.

The firm, which offers both investment management and financial planning, said it was able to meet the criteria for independence under the incoming RDR rules, as it offers ‘a whole of market service on the complete range of retail investment products to our private clients if required’.

Several wealth managers have recently said they will be restricted under the new rules, including Brooks Macdonald, Rathbones, Brewin Dolphin and Quilter.

Cazenove head of wealth management Mary-Anne Daly (pictured) said: ‘Being independent benefits the business in that clients are able to access a complete service under one roof.

‘However, there are many instances when we will work in partnership with clients’ own professional advisers. Indeed, this has been a substantial area of growth for our business over the last few years and one which we are committed to developing further.’

Nonetheless, she acknowledged that the new definitions are not necessarily clear for underlying clients.

‘Badging doesn’t always lead to a greater understanding for the end client. As long as wealth managers continue to offer the most appropriate products and investments to their clients taking into account the clients objectives and risk tolerance, then whether the advice is internal or external it shouldn’t matter.’

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Sponsored Video: Bringing it all back home

As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

Investing for income in a changing environment

With talk on interest rates on the horizon, our latest roundtable debate covers income investing against a changing backdrop

On the road

Click here to find out more from the Audience Development team.

Sorry, this link is not
quite ready yet