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For the past 18 months Winchester White has had a designated team looking at the emergent FSA proposals for RDR. Our surveys have provided insight into the thinking of senior industry figures and we have assisted clients in establishing their response to the various discussion papers.

However since September of 2009 we have re-focused our analysis to provide assistance to clients to move from the tangle of confusion, exaggeration and speculation that characterised the consultation period to a pragmatic view that answers the question ‘how do we deliver this thing successfully and thrive post 2012? To do this our team set out to:
1. Understand the impact on differing operating models of implementing the current proposals
2. Assess the opportunities for new entrants to this market
3. Develop practical approaches to help our clients to implement the proposals successfully and profitably.

To address points one and two we have developed a scenario analysis model that provides clients with a structured approach based on decision trees to:
• Identify the key decisions they will need to make and
• Identify the subsequent operating model combinations that such decisions will demand.

However knowing the operating model is one thing, designing detailed operational change is another. To help our clients deliver effective detailed re-design in the business areas most immediately affected by RDR we have used our experience, knowledge and industry insight to develop implementation approaches. These will allow our clients to understand how innovation can re-shape their offerings, how they can measure their progress against best practice and use the experience of others to avoid problems and issues. We have developed such thinking and insight in the following key impacted operational areas:
• Adviser forces – e.g. structure, management, motivation, remuneration, changing the offer/proposition from product to advice etc.
• Customer experience – e.g. revised customer segmentation, expectations and attitudes. How to design to meet their needs etc.
• Distribution model – e.g. integrated distribution, the impact and potential of digital and social media, Wraps and platforms, IFA model changes etc.
• Back office – cost control, management of increased operational complexity for pre and post RDR worlds, creating a distinctive offer etc.
• Technology – understanding what the providers are doing and how to harness its potential etc.
• Product design – re-pricing existing products and the opportunities for new product development.

This expert insight and knowledge allied to our proven collaborative approach makes us the perfect partner to support your successful RDR delivery.

If you would like to speak to one of our RDR specialists please email us.