Deloitte, the business advisory firm, is helping life assurers and distributors meet the challenges posed by the Retail Distribution Review (RDR).
It has helped organise a joint project enabling AEGON, Friends Life, Legal & General, Prudential, Scottish Life, Sesame Bankhall Group and trade bodies to develop a shared approach to adviser charging and consultancy charging.
Adviser charging and consultancy charging will be introduced with the implementation of RDR on 31st December 2012.
Gavin Norwood, partner at Deloitte, said:
“The Retail Distribution Review will result in a huge change in the way financial advisers are paid for their advice. The changes will come into effect by the end of 2012 and although many of the rules and guidance are in place, the industry needs to develop a common view of how adviser charging and consultancy charging will work in practice.
“Advisers and providers want a smooth transition through the implementation of the Retail Distribution Review and beyond. Deloitte is delighted to have helped create this shared approach, which will smooth the introduction of adviser charging and consultancy charging across the industry.”
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