Thursday, 26 July 2012 11:29
Ascentric finds half of advisers still behind with RDR preparations
Half of advisers say they are still behind in their preparations to meet the RDR deadline, according to Ascentric.
The sponsor of the Institute of Financial Planning questioned about 80 advisers at its RDR workshops earlier this month which were held in Bath, Birmingham and London.
When questioned on how ready they were for RDR, 50 per cent said they were 'on target' to be ready by the deadline while the remainder felt they were behind with their preparations.
The main reason for the delay was finding the time to implement the changes and also have the time to run a business.
There was also continuing concern about adviser remuneration and client propositions. Many advisers had implemented a client proposition only to find it was unsuccessful and then having to start again.
Regarding issues in the future, post RDR implementation, advisers were most concerned about expanding their client bases at the same time as maintaining revenue and coping with the financial markets.
The free Ascentric roadshows were held throughout July to help advisers and compliance staff transitioning to RDR. They were so popular that the firm had to hold an additional session in London to meet demand.
Dominic Ventham, head of marketing at Ascentric, said: "The roadshows went incredibly well and were over-subscribed. "The feedback was very, very good. Quite often advisers attend an event and are not quite sure what they will get out of it but our speakers were all rated good or excellent."
Speakers included IFP staff Sue Leech and Steve Gazzard, who spoke on RDR qualifications and paperwork, and Nick Bamford from Informed Choice who spoke on service and pricing.
The sponsor of the Institute of Financial Planning questioned about 80 advisers at its RDR workshops earlier this month which were held in Bath, Birmingham and London.
When questioned on how ready they were for RDR, 50 per cent said they were 'on target' to be ready by the deadline while the remainder felt they were behind with their preparations.
The main reason for the delay was finding the time to implement the changes and also have the time to run a business.
There was also continuing concern about adviser remuneration and client propositions. Many advisers had implemented a client proposition only to find it was unsuccessful and then having to start again.
Regarding issues in the future, post RDR implementation, advisers were most concerned about expanding their client bases at the same time as maintaining revenue and coping with the financial markets.
The free Ascentric roadshows were held throughout July to help advisers and compliance staff transitioning to RDR. They were so popular that the firm had to hold an additional session in London to meet demand.
Dominic Ventham, head of marketing at Ascentric, said: "The roadshows went incredibly well and were over-subscribed. "The feedback was very, very good. Quite often advisers attend an event and are not quite sure what they will get out of it but our speakers were all rated good or excellent."
Speakers included IFP staff Sue Leech and Steve Gazzard, who spoke on RDR qualifications and paperwork, and Nick Bamford from Informed Choice who spoke on service and pricing.
• Want to receive a free weekly summary of the best news stories from our website? Just go to home page and submit your name and email address. If you are already logged in you will need to log out to see the e-newsletter sign up. You can then log in again.
This page is available to subscribers. Click here to sign in or get access.