The Financial Services Authority’s Retail Distribution Review, which aims to put a wall between independent investment advisers and those selling investment products, is set to drive down the investment fees charged by fund managers, according to Deloitte.

The RDR aims to remove conflict of interest from the system by preventing product providers from paying commission to avowedly independent investment advisers. It also requirements fund managers to meet minimum standards of qualification, as well as stipulating greater transparency in how advisers define themselves.