Matrix features in Government Paper on RDR

Matrix has been recognised in the Retail Distribution Report prepared by the House of Commons Treasury Committee which was published on 16 July 2011.

This report explores the FSA’s reasons for raising the standard of qualifications of IFAs, changing their fees and how their advice is classified, and evidence that this notion will indeed be in the best interests of consumers in order to protect them from being mis-sold financial products.

These reforms are to take place in January 2013 which could mean that a large number of IFAs will have to leave their jobs due to lack of qualifications – concerns are raised whether this will indeed protect consumers or will actually lead to a significant reduction in competition and choice.

Matrix’s data on the number of Independent Financial Advisors in the UK was provided to the House of Commons Treasury Committee, and acknowledged in their Retail Distribution Review XV. Our data was used to help the committee to forecast the reduction in the numbers of IFA under the RDR’s proposed increase in the qualification level required for IFAs.

Click here to view the full Retail Distribution Report

Published on:04/08/2011