The overwhelming majority of advisers using platforms are still aiming to remain independent after the implementation of the retail distribution review (RDR), with only a handful looking to retire, it has been suggested.
A survey of platform users conducted by Defaqto found 87% of advisers intend to remain independent. Only 7% believe they will be 'restricted' advisers from 1 January next year, while less than 2% saying they will retire. It also showed the progress being made towards weaning IFAs off commission, with just 10% of the 350 advisers surveyed now relying on commission for all their remuneration, although 70% of those who work on a mix of commission and fees still rely primarily on the former. Meanwhile, 42% of advisers indicated they outsource some or all of their investment process, wi...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
