The Retail Distribution Review (RDR) has exacerbated a polarisation of the advisory market, with an almost even split of firms forecasting growth and those predicting static or declining revenues over the next three years, research has suggested.
Almost half (47%) of 100 advisers polled by national group Foster Denovo said they expected their firms to grow between now and 2016, while 45% expected business to either contract or remain flat over the period. Foster Denovo said it was concerned that eight respondents believed they would cease trading in the next three years, a figure which, extrapolated across the entire UK advice market, would mean some 1,700 advisers exiting the industry. Darren Laverty, sales and marketing director at Foster Denovo, said: "It is concerning to see that such a large segment of our industry predic...
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