The Financial Services Authority is planning to conduct checks on adviser firms to ensure they are on track with their RDR implementation.

Speaking at a conference, FSA head of investment department, Linda Woodall said that the checks would identify firms doing well and those doing not so well.

The checks would involve surveys and information requests for firms and thematic work on RDR readiness. RDR for small and large firms would also appear on the FSA agenda for its supervisory meetings with firms.

Checks would also focus on whether customers were receiving suitable advice regarding centralised investment propositions and how this could change post-RDR. Centralised investment propositions apply to model portfolios, discretionary fund managers and distributor-influenced funds.

These checks would also apply to single premium investments and pension products.

Ms Woodall said: “All of this supervisory work ahead of RDR implementation will, I hope, elicit further examples of good practice. I’m afraid it may also identify some practices that are less than good.

“But by spotting these good and poor practices early and sharing these with the industry, we hope to improve the overall quality of implementation and, in turn, the overall quality of advice for clients.”

It also said it would be conducting ‘implementation surgeries’ for smaller firms at the end of the year which would allow firms to discuss progress one-on-one with FSA supervisors and briefings for larger firms.