Tuesday, 26 June 2012 11:46
View RDR changes as opportunity to improve business, urges Defaqto
Data provider Defaqto has highlighted four ways in which the RDR could benefit advisers.
Opportunities for firms post-RDR include using the RDR as a driver to reappraise business propositions and taking the opportunity to communicate the quality of service clients receive from the firm in return for a fee.
The RDR will also force firms to look at their clients to assess which ones are most valuable and look at which groups of people they want to be targeting as a firm post-RDR.
Zahid Bilgrami, Defaqto's chief executive, said: "We believe that although RDR implementation poses a range of initial challenges for advisory businesses, the new distribution era also offers them a real opportunity to thrive.
"The key is how businesses approach the transition process to ensure that they are well positioned to thrive in 2013.
"In our experience, access to independent expertise and outsourced support is becoming increasingly important to advisory firms - whether to support investment decision making, administration or product and platform research."
The comments come a week before Defaqto's RDR conference on 5 July, which will help advisers with the final steps needed to transition to RDR.
Speakers include representatives from the regulator, professional bodies, trade bodies, providers and adviser firms, speaking on outsourcing and risk management, researching, due diligence and client communications.
Opportunities for firms post-RDR include using the RDR as a driver to reappraise business propositions and taking the opportunity to communicate the quality of service clients receive from the firm in return for a fee.
The RDR will also force firms to look at their clients to assess which ones are most valuable and look at which groups of people they want to be targeting as a firm post-RDR.
Zahid Bilgrami, Defaqto's chief executive, said: "We believe that although RDR implementation poses a range of initial challenges for advisory businesses, the new distribution era also offers them a real opportunity to thrive.
"The key is how businesses approach the transition process to ensure that they are well positioned to thrive in 2013.
"In our experience, access to independent expertise and outsourced support is becoming increasingly important to advisory firms - whether to support investment decision making, administration or product and platform research."
The comments come a week before Defaqto's RDR conference on 5 July, which will help advisers with the final steps needed to transition to RDR.
Speakers include representatives from the regulator, professional bodies, trade bodies, providers and adviser firms, speaking on outsourcing and risk management, researching, due diligence and client communications.
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