Regulated advisers face split following RDR

Regulated advisers could be split into two categories dubbed professional financial planners and gen...

Regulated advisers could be split into two categories dubbed professional financial planners and general financial advisers, according to Clive Briault, managing director of retail markets at the FSA. The regulator outlined proposals for a new financial advice regime in the UK at today’s Retail Distribution Review conference. Under the proposals, professional financial planners would require minimum practices and standards and would agree remuneration with the customer. “We may have to raise requirements for those firms and advisers supplying full range and specialist financial advice...