The long and busy summer holidays are drawing to a close, with the kids
back off to school and the working population back to (or continuing) the daily grind.
With September arriving tomorrow we are now only four months away from the implementation of the Retail Distribution Review and we can expect to see more organisations attempting to engage consumers with the changes it will bring. Our recent poll suggested 51% of people do not know what RDR stands for, while Standard Life's research, reported in FT Adviser, has found that many advisers are struggling to explain the post RDR charging system to their clients.
Yesterday the FSA released a new RDR guide for consumers, explaining the changes and the implications for them. Many advisers will already have started talking to their clients on these topics but guides like these can certainly lend a hand in explaining the changes.
Savings and investments are a hot topic right now and Karen Barrett was quoted in a great piece in the Express this week on ways to save money. With talk of a base rate cut still continuing, savers will yet again be looking for ways to maximise returns on their money. The impact of inflation is negating the already low rates offered on most cash savings accounts, so now might be the right time to start speaking to your clients about other ways to generate income.
Have your clients been asking you about income generation? Have you noticed reluctance amongst savers to invest due to on-going market volatility? Should consumers consider moving their money out of cash and into stocks, shares, and funds? What arguments are you are putting forward to your clients and how are they responding to these?
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