More than a third of owner-advisers are planning to retire in the next decade and are looking for external successors fueling consolidation in the sector, according to research.
A survey of 100 advisers found 36% were planning to retire in the next ten years, but only a fifth will look for a successor in-house. Of the pool of advisers questioned by Investec Wealth & Investment in September 80% said they expected to semi-retire or take a phased approach to retirement before stopping work for good. This, Investec said, means the sector is "unlikely to see a dramatic departure" of senior practitioners over the coming years. There are currently about 24,000 advisers in the market, according to figures from the regulator. Instead the firm predicts more firm con...
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