RDR

The UK's biggest advice firms have been accused of failing to adequately inform potential clients whether they provide independent or restricted advice.

The Investment Management Association (IMA) has urged fund groups to roll over past performance of existing fund retail classes to new ‘clean' RDR share classes.

Tied wealth manager St James's Place has sent its advisers guidance on how best to describe its restricted service.

Although 2013 will be a pivotal year in wealth management as RDR rulings are put in place on 1 January, the past 12 months have also been extremely busy as firms tighten up their business models to meet the deadline.

HEROES & VILLAINS

About 8% of clients on the Skandia platform are signed up for adviser charging ahead of the provider's 18 December launch of its Retail Distribution Review (RDR)-ready charging model.

The IMA's new chief executive Daniel Godfrey outlines the key issues facing the fund industry, and explains how the IMA will tackle them over the coming year.

For months now, in the build-up to the end of year RDR deadline, fund providers have been anxious to tap into adviser and client demand for risk-rated, multi-asset portfolios.

Malcolm Kerr, executive director in Ernst and Young's financial services division, gives his top predictions on what the world will look like from January 2013 and for the next four years.

The Solicitors Regulation Authority (SRA) is to recommend that its members are allowed to refer clients to both restricted and independent advisers.