Industry news and views from Panacea and our partners.
RDR_
Why are you in business?
In the first of a series of special videos for PanaceaIFA, John Joe McGinley the Business Consultancy Manager at Aegon asks advisers to identify their business "happy meal" as they prepare for RDR.
Aegon: Why are you in business?
In this special series of videos for PanaceaIFA John Joe McGinley the Business Consultancy Manager at Aegon asks advisers to identify their business "happy meal" as they prepare for RDR.
PanaceaIFA.com RDR Question Time Your Burning Question Please
It is really encouraging to see that so many IFAs have already registered for this special event organized by PanaceaIFA.com and hosted by M&G Investments on Monday 7 March.
Defaqto: 1 in 10 IFAs planning a move to restricted advice
1 in 10 IFAs planning a move to restricted advice ahead of RDR, according to Defaqto survey
What do IFAs really see as the challenge to their business model with RDR?
Hi David. I work with IFAs as clients, and what I have seen or discussed as the challenge is that RDR is yet another "change" amongst many this year that IFAs have to get to get to grips with.
What do IFAs really see as the challenge to their business model with RDR?
Hi David. I work with IFAs as clients, and what I have seen or discussed as the challenge is that RDR is yet another "change" amongst many this year that IFAs have to get to get to grips with.
Calling Advisers to confirm RDR business processing requirements
Origo, the eCommerce standards and services body has been working with the industry to ensure that the electronic communications that take place between Product Providers and Advisers via their Back Office Systems reflect the necessary changes required for RDR (Retail Distribution Review) compliance.
Nobody gets out of here alive
In the world of Rock and Roll, the death of an artist is considered to be the ultimate "career" move.
The ''Brothers'' are revolting???
"I can speak from absolute experience when I say the rest of Europe won't have the RDR"!!!
Question Time approaches, send your questions - NOW
We have assembled a great panel for March 7th
K.I.S.S, RDR and the Profession thing.
This acronym was coined by Kelly Johnson, lead engineer at the famous Lockhead Skunk Works. Whilst today it translates as 'Keep it simple stupid', the principle is best illustrated by the story of Johnson handing a team of design engineers a handful of tools, with the challenge that the jet aircraft they were designing must be repairable by an average mechanic in the field under combat conditions with only these tools.
We want your questions- NOW
We have assembled a great panel for March 7th- Graeme Abell M&Gs Director of Nationals and Networks, David Ferguson CEO of Nucleus, Garry Heath former director general of the IFA Association, Gareth Fatchett of Regulatory Legal and Sarah Thwaites deputy CEO of the FSSC. They should be able to cover a very broad spectrum of subjects from post RDR distribution, business models, transition, trade body representation, regulatory matters and qualifications.
AEGON: RDR the protection opportunity workshops register now
Do you need help to navigate the changing distribution landscape?
New model advisers: 'bust a deal, face the wheel.'
It is really good to see an element of regulatory redress concern coming from the pro RDR New Model Adviser (NMA) camp who until now have continued to praise the merits of the RDR, urging those who are anti to either "shape up or ship out".
RDR: an opportunity
Last week, Barclays Bank announced they would stop offering customers branch based retail financial advice, citing the higher costs of RDR compliance as a main reason.
Meet the MPs RDR morning videos
For those that attended the event in December, and for those that could not due to the bad weather, please find the overview plus presentations from Alan Lakey and Peter Hamilton on M&Gs iView player.
Meet the MPs RDR morning videos
For those that attended the event in December, and for those that could not due to the bad weather, please find the overview plus presentations from Alan Lakey and Peter Hamilton on M&Gs iView player.
IFA letter of the week - FSA RDR & EU LAW
With regard to the RDR debate the European element has been largely ignored but some are taking notice:
Distribution of Retail investments:
Since 1979, the Plain English Campaign has been campaigning against gobbledygook, jargon and misleading public information. They have helped many government departments and other official organisations with their documents, reports and publications believing that everyone should have access to clear and concise information. Many providers have a Crystal mark on their documentation reflecting their support of plain English. Clearly this does not apply to the FSA.
Ideologies and regulation do not mix.
William Joyce - nicknamed Lord Haw-Haw by the 'Daily Express' was the voice of the Reich Ministry of Public Enlightenment and Propaganda
PanaceaIFA.com: t&c:me
PanaceaIFA T&C is a web based system that prompts and records T&C events. All PanaceaIFA related events are automatically input plus you have the ability to add a wide range of additional T&C activity. This builds into a comprehensive T&C record for you and if required, personnel within your firm. This data, which can be analysed and reported on, demonstrates what you and/or firm have done to maintain competence.
Welcome to the January Issue of Techtalk
In this edition we welcome back Ian Naismith, who is looking at the latest announcements on auto enrolment. And Robert Kerr, our inhouse RDR expert, who summarises the FSA consultation paper 10/29 concerning platforms and nominee related services.
Client data is it reducing the value of your business?
If nothing else, the Retail Distribution Review has focused IFAs attention on business planning and back office organisation. And what is becoming increasingly obvious is that - whether you plan to sell your business as a going concern or you have decided to sell your client book - poor client data can, and will, cost you.
If you get it wrong get it right next time
I think now is a very good time for a pause to take stock of where we really are, what the messages out there from the industry, government, consumers and FSA actually mean and most importantly is there a desire for a reasoned debate to make sure that with the RDR and CPMA we do Get it right next time!
IFA letter of the week
I aim to start 2011 as I did 2010 and that is by being an RDR bore, so here goes. I find it revealing that when the FSA seeks to use research date in support of its proposals it conveniently ignores the alternative interpretations that are frequently placed on the same data by the researchers.
Hub eNews: RDR - A Brave Newish World
Brave newish world - Julian Marr recently held a roundtable discussion with representatives of three of the leading asset managers to discover their views of how the new landscape will look - for fund management and advisers alike.
IFA letter of the week
I aim to start 2011 as I did 2010 and that is by being an RDR bore, so here goes. I find it revealing that when the FSA seeks to use research date in support of its proposals it conveniently ignores the alternative interpretations that are frequently placed on the same data by the researchers.
PanaceaIFA:t&c - Regulatory Update
The FSA have published the final rules for Competence & Ethics in Policy Statement 10/18. This update provides an overview of the requirements, in particular:
Norwest Recruit - RDR
IFA Letter of the week - I wonder if it is at all possible to be rational on this topic without some people getting completely hysterical. Let me take a few of the popular arguments.
Work of the FSA & treasury feedback 2007-08
& the request by the TSC in November 2010 for the views from interested parties on whether the RDR will achieve the stated outcomes and whether the outcomes could be achieved in other, potentially better, ways.
Nucleus - IFAs put forward proposal for one page platform disclosure document
The IFA firms that own and control the Nucleus wrap have devised a proposal for a one page disclosure document they believe should set the standard for the platform industry.
One-third of IFAs already prepared for RDR, according to Defaqto adviser survey
An IFA survey conducted by independent research company Defaqto has found that 33% of advisers feel they are fully prepared for the Retail Distribution Review (RDR).
Fortis Life - Come and see what's behind door 24!
If you haven't visited the Fortis Life advent calendar, come and have a look. If you have, you probably know by now that it's time to open door 22.
ODE to RDR
IFA letter of the week.... In the Beginning was the Plan; And then came The Assumptions;And the Assumptions were without form;And the Plan was completely without substance;And the darkness was upon the face of the IFA
Ode to RDR
In the Beginning was the Plan And then came The Assumptions And the Assumptions were without form And the Plan was completely without substance And the darkness was upon the face of the IFA
Wizard Learning - Free RDR seminar invitation and a chance to meet the MPs
As you may already be aware we are a supporter of PanaceaIFA.com, the free online community and following Monday's Commons debate on the RDR we would like to invite you to their special RDR session hosted by M&G Investments.
The Ethical Partnership - The Retail Distribution Review (RDR) - my thoughts
The Treasury Select Committee has called for written evidence about the changes to the regulation of independent financial advisers.