FCA: RDR is working and there is 'little evidence' of advice gap

The Financial Conduct Authority (FCA) has declared the Retail Distribution Review (RDR), its long-standing project to revamp the retail investment advice market, is working, though some concerns remain on the costs of advisers' services.

The first stage of the post-implementation review of the RDR has shown it has reduced product bias and that advisers are offering investors an increasingly professional service tailored to their individual needs. The results have been published alongside the third stage of a separate review of RDR's progress, which is examining its impact at the firm level. The initial results of the FCA's first post-implementation review, which is supported by research conducted by Europe Economics, found that the RDR has reduced product bias. In particular, it found there has been a decline in th...