FSA the 'biggest beneficiary' of RDR, say advisers

The Financial Services Authority (FSA) will be the biggest winner following the retail distribution review (RDR), according to a survey of 280 advisory firms.

A white paper on RDR, conducted by consultancy Mitchell Moneypenny on behalf of 2Plan Wealth Management, found 43% of mass market IFAs saw the FSA as the biggest single beneficiary of the review. Just over a fifth (22%) saw restricted advisers and banks as the next highest beneficiary. Mitchell Moneypenny also conducted interviews with 30 providers, platforms and distributors. Of those, a third saw consumers and clients as the biggest beneficiaries. Greater consensus existed between the IFA and industry figures over the biggest barrier to an IFA retaining independent status post-RD...