Chief executive of Transact Ian Taylor warned delegates at the Institute of Financial Planning annual conference that the RDR will lead to a scramble in distribution.
In a hard-hitting keynote speech Mr Taylor warned delegates the RDR could lead to operational difficulties as they try to comply with new rules.
He predicted there would be a scramble for distribution, rush by clients for execution only and fund manager consolidation as the industry could not support them all.
He said platforms would "all look the same with lazy differentiation between platforms on pricing and a 'lemmings' pricing strategy."
He also critcised the Financial Services Authority for delaying their decision on cash rebates which many platforms were waiting for.

Regarding the RDR in 2013, he said he was "concerned there will be real practical problems which are more obvious than real practical benefits." This, he said, was because the FSA had leaned heavily on research and ignored tax implications of the change. It had also failed to co-ordinate with HMRC and the Government on the changes which presented problems.
However, Mr Taylor ended with good news by saying the positives of the RDR were that clients would realise the value of financial advice and that value and cost are not the same.
He predicted more clients would move to execution only as it is cheap but would hopefully see that cheap isn't necessarily a plan.
Transact is a sponsor of the IFP and lead sponsor for the conference, which is being held from 1-3 October at Celtic Manor Resort in Wales.