On Thursday 16th October, Distribution Technology the leading provider of planning and sales technology for financial services in the UK, hosted a seminar with the BBA and ABI on the challenges presented by the FSA Retail Distribution Review (RDR). Keynote speeches were given by Ben Goss, CEO of Distribution Technology, Peter Tyler, BBA Director and Richard Wilson, Policy Adviser to the ABI.
Ben Goss, CEO of Distribution Technology, commented: “Market volatility and the sheer pace of change in how consumers manage their finances has focussed attention on how we as an industry improve access to quality advice, cost effectively. The forthcoming RDR addresses this challenge and will lead to significant change, raising concern over the potential costs to industry, a particular issue in such difficult financial conditions.”
“The RDR is demonstrating that the financial services sector has to achieve a greater degree of productivity within the advice process. But, there are already proven solutions that within the existing regulatory framework will deliver advice economically and profitably. At Distribution Technology, we already provide such systems for our clients which importantly are designed to have the capacity to accommodate transformations that might be required by the final outcome of the RDR. We feel sufficiently confident that for clients who implement a focused advice solution with our Dynamic Point of Sale application, we will underwrite the cost of any mandatory system changes required by the introduction of a Guided Sales process should they wish to adopt it.”
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