The majority of financial advisers will not dump less wealthy clients as a result of the Retail Distribution Review (RDR).
A survey from the watchdog, seen by the Sunday Times, found 63% of advisers plan to retain clients with savings and investments worth between £20,000 and £75,000. About 40% said they would work with people who had less than £20,000.
This contrasts to the Deloitte poll which found 5.5 million people would be left as ‘financial advice orphans' after 1 January.
Future World funds
Square Mile’s series of informal interviews
Achievements, charity work and other happy snippets
Latest news and analysis
When is a refund allowed?