A tenth of advisers are considering the 'restricted' advice route after 2012, significantly fewer than recent estimates, new research suggests.
Of 500 IFAs surveyed by Defaqto, 9% said they are considering relinquishing their independent status when the RDR comes into force.
Although Defaqto predicts this number could rise throughout the year, it remains significantly below other, recent etimates.
A survey of more than 200 members of IFA support services group threesixty, carried out earlier this year, found 48% would give consideration to losing their independent tag in order to continue providing their current range of services.
Matt Ward, Defaqto's wealth management consultant, says: "The initial negativity around the term ‘restricted' is perhaps starting to subside as IFAs become aware of the realities presented by each option.
"We expect the number of IFAs considering the restricted approach will increase further during 2011 and indeed larger organisations will consider running with a dual approach, whole of market and restricted."
Previous research by SimplyBiz found less than 4% were considering the restricted route, with the authors suggesting the figure would drop even further once advisers realise RDR qualifications and remuneration requirements are identical for both independent and restricted advisers.
However, it has been argued the requirement for a ‘whole of market' view will push a larger proportion towards restricted status.
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