Leading product providers have revealed plans to increase their of direct business operations as they expect up to 10% of advisers to leave the industry due to RDR, according to confidential discussions with researchers.
In a paper commissioned by accountants Grant Thornton and marketing agency Red Tag, two thirds of providers (62.5%) said they were planning to capitalise on the predicted reduction in IFAs in 2013. Around 45% said they would be developing products that were specific for simplified advice, which the FSA has said could be delivered by a 'facilitator' who does not provide advice. Distribution tactics would feature "direct sales force in a call centre" and "non-advised business via the website", the report said. But Gill Cardy, founder of independent adviser trade body the IFA Centre, ...
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