Legal & General stresses importance of RDR compliance
08 September 2010 at 15:33
Legal & General has outlined the importance of complying with upcoming Retail Distribution Review (RDR), when it comes into force in late 2012.
According to the organisation, advisers will need help when making the transition towards selling investments in the RDR world.
It has aimed to tackle this issue by launching a single premium investment bond designed to assist advisers.
Jamie Vale, director of business development in savings, noted that IFAs advising clients on IHT and tax planning solutions may be considering recommending investment bonds, and it is important to have a bond that meets RDR criteria.
He added: "With the bonds versus collectives debate re-awakened following the change in capital gains tax regulations, the ability to directly compare fund charge structure with the equivalent collective fund should make advisers' research more straightforward."
Earlier this week, Danielle Levy, writing for Citywire, said that in the lead up to the retail distribution review some discretionaries may find it very difficult to guarantee that clients will not receive investment advice at some point in the future.
Posted by Tony Miller