Qualified advisers answering your
Financial Questions
call 0800 092 1245

RDR ‘could deal Blow to Savings’

Tory MP, Howard Flight, has spoken out against the Retail Distribution Review which is planned to come into effect at the start of 2013. It is his view that it could have a damaging effect on savers within the UK, reducing the availability of financial advice.

He also added that this would have a detrimental effect on the economy, by obstructing savings needed to pull the nation out of recession.

In a letter to the Financial Times, Mr Flight, who is also chairman of the Flight and Partners recovery Fund, said that the Financial Services Authority (FSA) and the Treasury were ‘hell bent’ on implementing the RDR, despite the negative effects he feels it will have on UK savings.

Flight said that the changes will no doubt affect those that are less well off, and that anyone who earns a salary under £100,000 would likely be unwilling to pay the fees.

He added: “The rich will be affected little; they have the resources to pay for advice. But financial advisors will not be interested in those who have savings in the order of £100,000 or less, who I doubt will be willing to pay fees out of after tax income”.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details