The RDR has created some serious issues for adviser firms looking to acquire a business and those looking to sell up for their retirement, says Almary Green's Carl Lamb.
Despite the many changes and the gradual evolution of financial advice, the fact is that our industry largely remains a cottage industry. It consists of small- to mid-sized firms that have been mainly built around the skills, expertise and reputation of the principals of the business. Since the Retail Distribution Review (RDR) was announced and the prospect that all advisers would have to achieve a set level of qualification to continue to practice as IFAs, there has been a noticeable selling up of businesses and migration of older principals out of the industry. This has presented IFA g...
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