RDR to force one in seven advisers out - JPMAM

An online poll of 567 advisers found 84% intend to remain independent while 14% plan on closing their business. Just 2% expect to become tied advisers. IFAs have until December 2012 to sit the necessary exams, meet qualification standards and update their remuneration models under the proposed regulations. However, JPMAM says some advisers clearly feel they are either not equipped or prepared to meet the stipulations. Head of retail distribution Jasper Berens warns IFAs wishing to exit need to act now to realise the value of their businesses. "Adviser numbers will undoubtedly fall ...