So, it is upon us. 2012 has been bandied about in numerous articles, on PowerPoint slides and in meetings across the UK for years now. Roll up, roll up for the RDR.

As we are collectively blown back into our offices, you can almost hear the clock ticking and it’s time to get the house in order. For some newer business which have been built with awareness of the RDR, it’s not such a dramatic year. Some advisers are fee-based, platform-adopters and well prepared for the challenge. However most businesses, not assisted by the unclear regulatory backdrop, are trying to future-proof when no-one’s quite sure what the future looks like.

What do we see happening this year? The rise of ‘institutional’ platforms (think Ascentric’s IFDL, Cofunds Institutional and SEI) as more distributors decide they want control – the ‘Lego’ approach where a bespoke platform is assembled. Ongoing platform margin pressures – Skandia have said they expect margins to halve by 2015 so I guess the Christmas decorations have come down in Southampton ;0) Great activity in the non-advised platform market which will frequently sit next to the advised proposition as well – 56% of active private investors questioned for our upcoming D2C Platform publication tell us they have both a relationship with an adviser and a D2C platform ‘on the side’. Finally, we’ll continue to see the ongoing march of discretionary, as dangerous in the wrong hands as the Latin Lover who talks a good game and has good teeth but sometimes we just want the rubbish put out and someone to cook tea. N’est-ce pas, ladies?

A date for the diary – Platform 6 will be on October 25th at the QE2 centre in central London. We’ll also be announcing our new Platforum ratings of platforms on February 23rd (drumroll…) so stay tuned for that. Finally on 24th January we’re holding a small morning event in London for advisers with AXA, BNY Mellon, Resources Compliance and Technical Connection – a discursive ‘boardroom discussion’ event to tackle questions on investments; working with execution-only , phone advice and restricted advice; platform stuff and all compliance and technical questions. Phew! We have 4 places left for senior advisers in charge of the strategic direction and structure of their business – please contact Emma Napier for details.

A very happy New Year to you all and we look forward to a whirlwind 12 months – we suspect we won’t be bored! I cancelled my personal trainer this morning and stuck a bottle of white wine in the fridge for tonight – my body prepares for great challenges in different ways to our Olympians.

Holly