The vast majority of UK advisors would like to see an awareness-raising campaign for end-clients on the benefits of the Financial Services Authority’s Retail Distribution Review programme of reforms, according to new research.

Having surveyed UK advisors, the platform Cofunds found that 87 per cent would like to see such a campaign, with 70 per cent of respondents also saying that they thought this would have a positive impact on consumers' perception of the professionalism of financial advice.

“With the amount of time, effort and money advisors have invested in the RDR, it’s understandable that they’d like to see that effort matched in raising awareness among the general public of the benefits of RDR and the professional standing of financial advisors,” said Alastair Conway, Cofunds’ director of sales and marketing.

The RDR, which comes into force at the start of 2013, is one of the biggest regulatory changes to hit wealth management in the UK in years. It requires higher professional qualification standards and, crucially, aims to drive out use of commission payments and move the industry to a fee system.

Cofunds also recently surveyed UK advisors on how their clients feel about the transition to fees which will follow the implementation of the RDR. It found that over half of advisors said their clients had responded neutrally and a third positively to the changeover.