The Bettr Blog

No going back on RDR

Jan 11, 2012 | Financial Industry

[vc_row][vc_column][vc_column_text]There’s no doubt, that for most IFAs, 2012 will be their most challenging year to date with the Retail Distribution Review (RDR) set for 2013.

Not only must they pass exams to obtain a Level 4 qualification, they also need to complete ‘gap-filling’ activity to update their continuing professional development records, and then apply to obtain a Statement of Professional Standing (SPS).

All financial advisers will have to work with an accredited professional body to obtain a Statement of Professional Standing ahead of the 31st December 2012 deadline. Already it is predicted that up to 40% of IFAs might be unable or unwilling to do so.

Here at Brett Investment we are well advanced and hope to have our SPS within the next month. Being a Certified Financial Planner (a Level 6 qualification) has certainly helped but even so the Gap-Fill requirements have been surprisingly demanding.

We should not underestimate this challenge. For many financial advisers, these new professionalism standards are far in excess of anything previously required.

All investors should therefore ask their financial adviser for a progress report so they have the confidence that their IFA or tied adviser will be able to continue looking after their interests from the end of this year.[/vc_column_text][/vc_column][/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” anchor=”” in_content_menu=”” content_menu_title=”” icon_pack=”font_awesome” content_menu_fa_icon=”” content_menu_fe_icon=”arrow_back” text_align=”left” video=”” video_overlay=”” video_overlay_image=”” video_webm=”” video_mp4=”” video_ogv=”” video_image=”” background_image=”” pattern_background=”” section_height=”” parallax_speed=”” background_color=”” border_color=”” side_padding=”” padding_top=”” padding_bottom=”” color=”” hover_color=”” more_button_label=”” less_button_label=”” button_position=”” css_animation=”” transition_delay=””][vc_column width=”1/1″][vc_empty_space height=”32px”][/vc_column][/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” anchor=”” in_content_menu=”” content_menu_title=”” icon_pack=”font_awesome” content_menu_fa_icon=”” content_menu_fe_icon=”arrow_back” text_align=”left” video=”” video_overlay=”” video_overlay_image=”” video_webm=”” video_mp4=”” video_ogv=”” video_image=”” background_image=”” pattern_background=”” section_height=”” parallax_speed=”” background_color=”” border_color=”” side_padding=”” padding_top=”” padding_bottom=”” color=”” hover_color=”” more_button_label=”” less_button_label=”” button_position=”” css_animation=”” transition_delay=””][vc_column width=”1/1″][vc_googleplus annotation=”bubble”][/vc_column][/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” anchor=”” in_content_menu=”” content_menu_title=”” icon_pack=”font_awesome” content_menu_fa_icon=”” content_menu_fe_icon=”arrow_back” text_align=”left” video=”” video_overlay=”” video_overlay_image=”” video_webm=”” video_mp4=”” video_ogv=”” video_image=”” background_image=”” pattern_background=”” section_height=”” parallax_speed=”” background_color=”” border_color=”” side_padding=”” padding_top=”” padding_bottom=”” color=”” hover_color=”” more_button_label=”” less_button_label=”” button_position=”” css_animation=”” transition_delay=””][vc_column width=”1/1″][vc_tweetmeme type=”horizontal”][/vc_column][/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” anchor=”” in_content_menu=”” content_menu_title=”” icon_pack=”font_awesome” content_menu_fa_icon=”” content_menu_fe_icon=”arrow_back” text_align=”left” video=”” video_overlay=”” video_overlay_image=”” video_webm=”” video_mp4=”” video_ogv=”” video_image=”” background_image=”” pattern_background=”” section_height=”” parallax_speed=”” background_color=”” border_color=”” side_padding=”” padding_top=”” padding_bottom=”” color=”” hover_color=”” more_button_label=”” less_button_label=”” button_position=”” css_animation=”” transition_delay=””][vc_column width=”1/1″][vc_facebook type=”standard”][/vc_column][/vc_row]

Disclaimer: This document is intended for informational purposes and no action should be taken or refrained from being taken as a consequence of it without consulting a suitably qualified and regulated person.  It does not constitute financial advice under the terms of the Financial Services and Markets Act 2000. It is not an offer to sell, or a solicitation of an offer to buy, the instruments described in this.

Investments involve risks. The investment return and principal value of an investment may fluctuate so that an investment, when redeemed, may be worth more or less than its original value. Past performance is not a guarantee of future results. There is no guarantee strategies will be successful.