More can be done to take advantage of post-RDR world

REGULATION

A year after RDR took effect, Nick Blake, Vanguard's head of retail, says the UK is leading the way in changing the competitive landscape. But more can be done to take advantage of the post-RDR world.

In his famous speech at the Gleneagles Savings and Pensions Industry Leaders’ Summit held in 2006, Financial Services Authority chairman, Sir Callum McCarthy, took on the business model underpinning an entire industry. Incentives, he argued, mattered and the (then) current system served neither the producer nor the consumer and not even the intermediary. It took over six years for his words to turn into the implementation of the Retail Distribution Review, a policy initiative which, in spite of harsh resistance every step along the way, finally took place in 2013. The Financial Conduc...