Just 8% of independent advisers are likely to go restricted according to the most recent Financial Services Authority (FSA) figures.
The data was gathered in the third-quarter of this year and comes from online and phone interviews conducted with 1,436 advisers. Although 8% of independent advisers are likely to switch to restricted, 58% have said they will not, leaving 36% undecided. Just 1% of restricted advisers say they will switch to offer independent advice. In addition, 76% of advisers hold the necessary qualifications to be RDR ready by 31 December 2012. In terms of dealing with the low-net wealth section of the market, 38% of those advisers questioned said they would advice retail clients with less...
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