Chartered Insurance Institute (CII) research into consumers' views of the Retail Distribution Review (RDR) suggests a large untapped market of individuals who could be brought into financial advice for the first time as a result of the regulatory changes.
The CII's consumer survey, conducted to assess knowledge of the changes and their implications among the public, suggests that at least 5.3 million new customers who had previously ruled out financial advice are reconsidering it as a result of the RDR. However, the CII believes this untapped market could be much higher if the regulator and industry did more to communicate the RDR benefits. Taking the CII's survey sample as representative of the UK population, this means of the estimated 30 million adults who claim to have not received financial advice, just over half cited financial r...
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