Figures hint at scale of adviser exits due to RDR

The number of regulated financial advisers has declined from 30,249 to 25,604 in the period between November 2012 and February this year, according to figures put together by research firm Matrix Solutions. Advisers have either left the industry altogether or have stayed on in unregulated capacities, perhaps by offering what Matrix called a "zero advice" model. The rate of exits expectedly accelerated towards the end of 2012 ahead of the imminent arrival of new rules on minimum qualifications and remuneration methods on 31 December. Some 1,303 left in November/December, according t...