Third of advisers to exit after RDR - Bluefin

Chief executive John Simmonds says smaller firms lacking a strong capital base will struggle to survive in the post-RDR world, leading to further consolidation in an already fragmented industry. "I think we will see a substantial reduction in independent financial adviser numbers - with perhaps as many as one in three leaving the sector," he says. The regulatory shake-up will result in the less well-off having reduced access to advice, whilst the fall-off in adviser numbers could have damaging repercussions on consumer choice, he says. Despite warning of imminent dangers posed by t...