Just 10% of Personal Finance Society (PFS) members intend to exit the advice market post-RDR, according to the organisation's latest research.
The PFS had 28,200 members by the end of 2010 and 85% of them said they intend to carry on as independent advisers, with the remainder heading towards restricted status. The figures are in stark contrast to previous estimates suggesting up to a third of advisers could leave the industry. Meanwhile, progress is being made in the area of qualifications, with 42% of financial planners now holding a diploma and half the remainder having acquired one or more diploma units already. Overall, there was a 65% increase in the number of individuals sitting a Diploma or Advanced Diploma exam o...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes