Almost nine in every ten advisers have no intention of selling their businesses despite "scaremongering" reports of an IFA exodus in the build up to the RDR, research suggests.
Only 9% of advisers have already begun the process of offloading their practices this year while only 4% say they will definitely sell their businesses by the end of 2009, according to the MetLife's UK IFA Annual Report. A number of critics of the RDR, which proposes splitting the advice arena in two and introducing higher minimum qualification requirements, have sounded the death knell for the advice sector with some forecasting a 40% drop in numbers over the next three years. Additionally, a quarter of advisers are confident about the next 12 months and are now only marginally overs...
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