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What’s in a name? Is Independence necessary or desirable post RDR?

What’s in a name? Is Independence necessary or desirable post RDR?. David Burns Executive Director, NMG Consulting. So what’s Independent advice and what’s Restricted advice?. …or we could simply agree to disagree!. We could spend the entire session debating this. Which is which?.

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What’s in a name? Is Independence necessary or desirable post RDR?

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  1. What’s in a name?Is Independence necessary or desirable post RDR? • David Burns Executive Director, NMG Consulting

  2. So what’s Independent advice and what’s Restricted advice? • …or we could simply agree to disagree! We could spend the entire session debating this

  3. Which is which? • There are no off-the-shelf solutions…every single one of our clients has their own personal concerns, responsibilities and ambitions… • We offer a range of carefully constructed, risk-rated portfolios that enables you to spread your investments across a wide range of asset types and countries • The cornerstone of our approach is our Investment Committee who 'manage the fund managers' on behalf of our clients • Our planning process…how we get from where you are to where you need to be • We offer several active portfolios, to suit every risk appetite…we select a range of funds from a variety of expert fund managers and management houses • Our Wealth Management Committee meets quarterly to discuss the merits of where we have invested

  4. Passive restricted The Advice Continuum Active restricted WoM TODAY: Most firms operate here How IFAs describe RA Retail investment products, multiple platform and product usage, additional monitoring WoM but in practice 70% of business placed with 3 providers, packaged products Single platform, c100 funds, core provider, gap fill Single Tie Single platform, narrow investment proposition

  5. Which will you choose…and why? Whole of market Passive restricted Active restricted

  6. Does the customer actually care…or even know? • …or do they simply want to know their adviser isn’t biased and that they don’t have ‘all their eggs in one basket? Do customers demand independent financial advice?

  7. Ask yourself… Yes Are you entirely happy with the range of products and services you are able to offer your clients today? Maybe not Is your current model fully compliant with the new whole of market rules? ? So why do you need to be independent going forward?

  8. If you had to choose one of these, which would it be and why…

  9. Does Restricted Advice present a solution for the mass market? IFAs are focusing on higher value clients and the banks have exited the mass (advice) market FUM (millions) Active clients

  10. David Burns Executive Director London Office +44 20 7631 3087 Email David.Burns@NMG-Group.com

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