Jacques Coetzer, General Manager of Broker Distribution at Sanlam Personal Finance.
As the various phases of Retail Distribution Review (RDR) unfold in the years to come – with Phase 1 likely to be effective in January 2018 – it will become increasingly important for financial advisers and intermediaries to plan ahead and start gearing their businesses for a post-RDR scenario. In Phase 2 and 3, advice fees only (no commission) on single premium investments and recurring premium investments, respectively, will become effective – as will the introduction of new commission caps and reduced upfront commissions on risk products. The key is to start making incremental business changes now to mitigate cash flow- and business sustainability risks in the long term. (more…)
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