Restricted wealth manager Towry is planning a "busy" year of acquisition, according to its CEO.
The private equity-backed firm has raised multiple rounds of capital for expansion, including a £35m injection shortly the introduction of RDR.
CEO Andrew Fisher told SNL Financial Towry had "a keen appetite to acquire the right company at the right price".
"We think there will be people who will exit, so there will be clients who no longer have advisers, and there will be advisers who no longer have companies," he said. "So we think we will be able to pick up some good advisers."
"Another area of change will be in how individuals are paid," Fisher added. "I would hope that clients agree that advisers should be paid mostly through salary, with a very low bonus in order for them to not be influenced by having to sell a certain product. That is not only subject to regulatory pressure but also social and moral pressure."
He also said poorly-performing asset managers would be "exposed" in 2013: "I think margins will come down, and fund managers who are basically closet trackers will be exposed.
"With the increase in the use of peer exchange-traded funds each year, those who have very good added value will be able to charge a premium. Those who do everything for everyone in a mediocre way won't add any value at all."
Though Towry has no plans to acquire a banking licence, Fisher said, the decline in private banks offering advice also presented an opportunity for the company.
"In the past, it has been that low-capital, high-margin, easy cash is the only option, and now there is substantial capital, significant regulatory premiums and hard graft in giving good advice.
"I don't think they are going to completely disappear, but there may be fewer that are a lot better."
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