Questions And Answers
This RDR business and existing clients
asked by Thomas Bright posted 2 Years ago at 15:55
Hi there i have briefly seen some info regarding the Retail Distribution Review and was wondering what happens to existing clients of Financial Advisers, if you previously worked of a commission basis with your adviser does this then change to fee based when it is brought into affect???
1-3 of 3 Answers
Steven Shirley answered 2 Years ago at 15:41, last modified: 2 Years ago at 14:41Hi. Existing clients will continue as before, however should you wish to conduct further business then you will have to sign a new terms of business under the post RDR regime. This should even be if you are paying monthly in to a plan set up before the changes but continuing after 31/12/12. Hope this helps. Steven.
Thomas Bright answered 2 Years ago at 4:51Hi Steven and thanks. Does this mean though that all new business post RDR is on a fee rather than commission basis?
Steven Shirley answered 1 Years ago at 17:51Yes it will be a fee. This can be as an invoice to you for the advice or as a fee against the investment/pension etc so you don't have to physically hand over the cash. Some will charge an hourly rate and some a percentage.
About Q&AAnswer questions raised by Consumers between themselves and for you, the Professional. Share your knowledge and expertise and also create a potential enquiry lead.
- General Topics
- Finance & Mortgage
- Wealth Management
- Retirement Planning & Annuities
- Offshore, International & Expat
- Estate Planning
- Group & Corporate Business
- Campaign Board
- Lifestyle & Planning
- Legal Matters
- Tax & Accounting Matters
- Property Matters
- General Insurance