RDR White Paper outlines wealth management challenge

Advent Software has compiled research and issued a White Paper on the UK’s Retail Distribution Review in the context of how it affects the wealth management industry.

Titled The RDR: Is the Wealth Management Industry Ready? the paper outlines what the RDR is, how it may affect the area of platforms, and identifies challenges, such as costs, as well as opportunities.

The ongoing work by the European Commission into PRIPs (Packaged Retail Investment Products) is also noted by the paper, which outlines how there are similarities in the objectives of both these regulatory and legislative processes.

As a software and services provider Advent naturally looks to the technology developments associated with RDR, particularly in the areas of automation, research management, order management and distribution, performance and client servicing.

the paper concludes that: “After years of discussion, and widespread uncertainty as to whether it would even come to fruition, the RDR’s various components are nearing finalization. The provisions herald a major shake up for all participants connected to the retail investment market, and will require significant investment in time and money over the interim period before implementation if firms are to be ready.”

“To be among the fittest will depend on having qualified, customer-focused, talented staff able to deliver the results clients want. And having a fit-forpurpose technology infrastructure will be a vital contributor to their success.”

 

Click here for a copy of [asset_library_tag 2896,The RDR: Is the Wealth Management Industry Ready?]

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