With the firm saying that it believes more in the chartered status than being independent, its group regulatory manager, Julie Hepworth said that the group is well-placed for the incoming Retail Distribution Review as it has been planning the transition for a number of years.
She further added that the firm currently plans to be independent post-RDR, but said that this is not set in stone and is currently being reviewed.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
FTAdviser quoted he as saying "We are still talking about the independent/restricted question at the moment. Wherever possible we will remain independent but we are also very mindful and do not want to fall foul of any FSA requirements, so if we believe that we can’t meet that benchmark, we are not entirely wedded to independent.
The firm added that it is well-placed in terms of adviser qualifications post-RDR and it has also encouraged its advisers to be chartered.
Hepworth said, "With adviser charging, we already generate quite a big proportion of our income from this, and we are pushing on to ensure that 100 per cent of our revenue is from adviser charging.
"There are training needs around that as that is a very different conversation with the client but again, we feel well placed," she added.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
