Less than 5% of independent financial advisers (IFAs) will leave the industry after retail distribution review (RDR) implementation, although an increasing number are worried about profitability, a survey suggests.
Of the 249 IFAs questioned in September as part of Aviva's Adviser Barometer, 89% said they expected to be in business on 1 January 2013. In a previous survey in June by the company, 7% said they plan to stop trading, compared to 10% in December 2010 and 36% in January 2009. However, the proportion worried about profitability now stands at 40%, up from 31% in May. Despite this, 47% were increasing investment in their business, while 36% were looking to recruit more advisers. Dean Lamble (pictured), director of distribution development at Aviva, said: "The commitment to recruitin...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
