The RDR will ‘empower' IFAs and allow them to take control of their business and its client relationships, according to Ascentric.
A range of focus group discussions conducted by Ascentric revealed advisers think the RDR will have a positive impact by breaking the link between product and remuneration, creating a business which earns revenue from provision of service instead.
Ascentric says this change will allow adviser firms to regain control over all elements of the value chain in their business.
Clinton Askew, of Citywide Financial Partners, ran the discussion groups and says: "The RDR represents a game change for the industry and I wanted to use the groups as an opportunity to help firms gain a commercial advantage by adopting some of the key principles before 2012."
The discussions also revealed advisers see wrap as an enabler of fee-based business, though they must be unbiased and unrestricted in order to play a central role in the transformation to an RDR-compliant business.
Richard Goodall, sales director at Ascentric, says advisers must ensure they are using RDR-proofed technology in order to successfully make the transition to fee-based business.
"It's important for advisers to realise that there are technology solutions that can help them in their migration to a new RDR world," he adds.
"Determining how near or far a platform is from being RDR-ready has to be a key factor in any selection process."
