The Group, which recently acquired its eighth IFA firm, has been a key supporter of the proposed RDR changes and, following the publication of RDR Consultation Paper 09/18, has urged IFAs to implement the changes as quickly as possible in order to take full advantage of the new environment.
Perspective believes the RDR will bring about a ‘flight to quality’ with consumers seeking out the top echelon of advisory firms in order to access the best advice. It believes the RDR provides a strong opportunity for IFAs to stand out from the crowd by focusing on on-going client relationships.
Perspective is keen for all its Group firms to meet the challenges that the RDR brings including an improvement of clarity for consumers in terms of the service they will receive, demonstrating increased adviser quality through a move to higher professional standards and taking the opportunity to build recurring income thus increasing the real value in the IFA practice.
Anthony Morrow, Commercial Director at Perspective Financial Group Ltd, commented: “Perspective has always been a keen supporter of the changes outlined in the RDR Consultation Paper and we are urging all IFA firms to grasp the nettle now in order to enjoy the benefits of this new advisory environment. Perspective’s whole ethos is based around the quality of advice and we are perfectly poised to reflect the core messages the RDR brings. That is, the need for better quality advisers, better capitalised business and a focus on ensuring ongoing client relationships. Firms that have joined the Group recognised we were able to assist them in meeting their RDR responsibilities while maintaining compliance and helping generate new business opportunities in the post-RDR world.
“We have known for quite some time that the industry was faced with some fundamental changes and we positioned Perspective at the forefront of this to ensure we were well-placed when the changes were announced. Our recent meeting of Principal heads outlined the next steps forward for both the Group and the individual firms which will ensure we continue to operate from a position of strength going forward. We would urge all IFAs to use the RDR to consider where they move next and, if they are looking to partner with a Group which can provide financial stability and a raft of services, then they should certainly consider the Perspective proposition and how it might be able to help them meet their business ambitions.”
