The Retail Distribution Review (RDR)
Q. What is RDR - Retail Distribution Review?
A.From the start of 2013, new regulations which you may have seen mentioned in the media have been implemented affecting your relationship with Speirs & Jeffrey. RDR aims to improve clarity on costs for investment advice, raise professional standards in the investment industry and ensure that a clearly defined transparent service is offered.
S&J’s approach - nurtured for over a hundred years - is unchanged. We remain committed to independence in the wider meaning of this term with no outside direction or ownership. Our advice to clients is provided on the basis of what we consider best for the client drawn from the very wide range of possible investment opportunities within our area of expertise.
S&J’s investment approach and offering did not alter with the introduction of RDR and our advice continues to cover only part of the full range of investments available to clients. For instance, we do not offer advice on life policies or pension provision – reflecting our stance that these are complex areas of the industry requiring specialist advice. Technically, as we do not cover the full range, we can no longer describe our advice as ‘independent’ and are required to use the term ‘restricted’.
As most clients will know, we have a large team of qualified and experienced investment managers. All of our advisors have gone through additional training and have achieved the required individual Statement of Professional Standing issued by the Chartered Institute for Securities & Investment (CISI).
Growing charity management service – the firm manages around £500m of charity portfolios.