We’ve launched an online RDR toolkit as part of our drive to support advisers as they begin the transition to fee-charging business models.
Forming a central plank of our comprehensive RDR programme, the toolkit will provide the content and utilities our advisers require to plan and implement an RDR compliant proposition.
Available now, the toolkit will enable advisers to review their existing position, design their future business model, determine how best to segment their client bank and facilitate the development of their new proposition with appropriate pricing and documentation.
Accessible with support from an Openwork Sales Manager and/or RDR Transition Consultant, the toolkit will guide our advisers through seven key stages. The first three, Vision, Segmentation and Proposition, incorporate our Client Bank Segmentation, cash flow modelling and Smart Hub systems. We launched these between September 2011 and January 2012 to provide analysis of client data, enable advisers to model their post-RDR cash flow, and provide access to a wide range of professionally-designed marketing support materials.
The fourth and fifth stages relate to our investment proposition and processes. These are covered during the Transition Workshops for advisers, which are aimed at helping advisers migrate to a platform-based proposition and transact business in a post RDR world. The final steps on the toolkit (Presentation and Plan) provide webinars and support material to follow the workshop, and will become live as each adviser moves through this phase of the transition.
Commenting, Mike Gummerson, RDR Transition Director at Openwork, says: “With the deadline for the RDR fast approaching it is essential that advisers have the support in place to guide their entire transition to fee-charging business models. Alongside our RDR workshops, the online toolkit will enable advisers to determine the right proposition for their businesses and give them the content and tools to deliver it to their clients.”