Investment - Articles - AXA Wealth comments on RDR deadline delay

 ike Kellard, Chief Executive at AXA Wealth, commenting on the possible RDR deadline delay said:

 "The Treasury Select Committee's request that the deadline for the RDR be pushed back by 12 months is unnecessary.

 "MPs are arguing that RDR is being implemented too quickly and risks putting financial advisers out of business, but reform is essential. I disagree that RDR is being implemented too quickly as I know that the industry is already well advanced in its preparations for RDR, and that nearly 50% of IFAs were already qualified and at least 82% expected to remain as retail investment advisers. The danger of postponing is it may send a signal to the market that we are not serious in our appetite for reform, and that if we move this deadline, then there will be nothing to stop us moving it again.

 "Any delay in RDR will result in a detrimental effect for consumers; the sooner we can raise the perceived standard of advice across the board, the better."