Nucleus members declare the platform RDR ready

A transparent charging structure, ‘unfettered’ open architecture and the freedom to develop bespoke remuneration models have been named by Nucleus members as key reasons why they believe the adviser-owned and controlled wrap platform to be ‘RDR-ready’.
A straw poll of member firms using the platform has revealed that the platform’s focus on transparency and clarity of charging means there is ‘one less thing to worry about’ when it comes to their own preparations for the RDR.

Commenting, Arthur Childs, Nucleus member and Managing Director of Arch Financial Planning said:
“Nucleus is all about clarity of charging so that our clients know who gets what and when, and the vast range of investment options permitted through the ‘open architecture’ framework means we can demonstrate that our advice is unbiased and unrestricted – a vitally important part of being RDR-ready.
 “Through the Nucleus wrap we have been able to get our advisers to agree on standard client charges rather than relying on product providers to determine this for us – thus removing the potential for adviser remuneration to distort consumer outcomes.”
Childs believes that the Nucleus framework has given member firms the flexibility to develop bespoke client charging structures to fit RDR requirements, and that the ownership structure means clients are reassured that member firms play an active role in the development of the platform with clients’ ‘best interests in mind’. 
“Nucleus has given us the freedom to develop our own client charging structure so that our remuneration is already in line with the requirement for ‘Adviser Charging’. This means our client charges increasingly reflect the services actually being provided rather than the amount of money being invested, which is fairer to all of our clients.”
Barry Neilson, Business Development Director at Nucleus comments:
 
“We’re delighted that member IFAs are confident Nucleus can be added to the list of firms who have declared themselves ‘RDR-ready’ and that they believe the transparent culture which has been in place since the inception of the business, as well as the open architecture framework, are entirely consistent with the FSA’s direction of travel. We always say to IFA firms that adopting a wrap does not automatically make you RDR-ready but it is a significant step in the right direction.”
Hear Arthur describe why he believes Nucleus to be RDR-ready here.