So, is RDR working?
Unlike many of our competitors, by the end of 2012 we already had several weeks’ experience of RDR under our belt. On 15 January 2013, we hosted a press briefing entitled ‘Is RDR working?’. This included a short film of some of our customers describing their experience of the new RDR advice process. Totally unscripted, and the opposite of what many journalists were saying last year, these customers say they really value the advice they get from their adviser. Quotes includeed, "We now know exactly what we are paying…" and “We need an annual review; we need to know how our money is working…"
Consumer research conducted by NMG in Q4 2012, and jointly sponsored by us, found that amongst those who currently receive advice from a bank or building society, most expect to carry on using banks or building societies post-RDR. Take a look at the (Download PDF:) research chart.