With just a year to go before the UK’s Retail Distribution Review comes into force, wealth managers and independent financial advisers are grappling with the practicalities of incorporating the new regime into their business plans.

The Financial Services Authority's RDR was conceived in 2006 and is due to come into force in December next year. It aims to force the advisory community to be clearer about products and services, eradicating conflicts of interest, and generally improving standards in retail investment.