Visit Professional Section

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 14:41
Hi. 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.
Quote
Thomas Bright answered 2 Years ago at 4:51
Hi Steven and thanks. Does this mean though that all new business post RDR is on a fee rather than commission basis?
Quote
Steven Shirley answered 1 Years ago at 17:51
Yes 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.

Steven
Quote
 
 

About Q&A

Get your questions answered by a unique network of professionals and fellow consumers for free. Share your knowledge and experiences by answering other consumer questions from the Total Investor community.

Q&A Categories