Nearly a third of advisory firms have lost clients due to RDR

clock

Nearly a third of advisory firms have lost clients as a result of the Retail Distribution Review (RDR), according to research from GfK.

A survey of 430 advisers by market researchers GfK found that 30% of firms have already lost clients as a consequence of RDR requirements.  The research, conducted in June, also found that 57% of firms have existing clients who will be unwilling to pay for advice while 45% have clients who will be unable to. "The majority of adviser firms will lose some clients who are either unwilling or unable to pay for advice. On average, this will represent 14% of their client base," according to GfK. Nearly 40% of firms said they would be willing to try and combat this with the introduction 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

Join

 

Already a Professional Adviser member?

Login

More on RDR

RDR ten years on: An advice industry changed for the better
RDR

RDR ten years on: An advice industry changed for the better

'The end of the advice industry as we know it'

Kevin Silvester
clock 08 February 2023 • 2 min read
RDR

Deja vu: Are we heading back to the future on commission?

Marty, fire up the DeLorean

Tim Sargisson
clock 13 January 2016 • 3 min read
RDR

Blog: How can we shrink the advice gap?

The advice gap has been a popular topic since the Retail Distribution Review, but hasn't this gap always existed?

clock 02 November 2015 •