Independence, Expertise, Excellence

Providing high quality Independent Financial Advice for over 50 years
Independent Financial Advisor from Morgans

Retail Distribution Review (RDR)

Fees

Historically financial advisers were remunerated for our services by commission or fees. However changes in legislation which came into effect on the 1st January 2013 introduced adviser fees for new recommendations made. These fees can be either be paid to us direct by a client or by deduction via a product provider, depending client preference.

The options available are always discussed with clients before any charges are incurred and a signed agreement is completed. We can be paid for one off advice on a transactional basis as well as being retained to provide an ongoing service for which we would receive an agreed fee.

We provide written full details of our various service options to enable clients to select that most appropriate to their needs and objectives.

Qualifications

Another aspect of RDR was the requirement for all Financial Conduct Authority approved Financial Advisers was to obtain a level 4 (diploma status) Financial Conduct Authority accredited qualification. Several of Morgans advisers already had this level of qualification with the Chartered Insurance Institute. All advisers acquired the necessary diploma well ahead of the 31st December 2012 deadline; with a number achieving the distinguished level 6 qualification and designation of Chartered Financial Planner.

As part of their ongoing advancement, advisers are required to undertake continuous professional development (CPD) and to sit annual technical knowledge examinations to ensure their knowledge remains current and appropriate.

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