Advisers overly optimistic about commercial property

Research by Reita also found 12% of financial advisers do not plan to take higher-level qualifications, despite the Retail Distribution Review (RDR) suggesting they will be necessary. Reita’s survey of 241 UK IFAs found 40% expect the UK commercial property market to recover in 2008, while 42% thought it would not start to recover until 2009 or later. However, 58% of Reita’s expert panel believe the market will not recover until at least 2009, with just 27% expecting a recovery this year. Dave Butler, head of external affairs at Reita, comments: “Clearly advisers are far more positive...