Advisers looking to sell out before 2012 will need to ensure their business is RDR-ready to stand a chance of attracting a buyer, says 1st Exchange.
The financial services industry technology provider notes that business consultants Ernst & Young estimates more than 25% of the 28,700 FSA registered advisers are expected to have left the industry by 2012 when RDR changes are implemented. This indicates a mass sell-off of IFA firms over the next two years, leading to an oversaturation of the market. 1st Exchange is warning advisers that clean and accurate data will be an essential tool in estimating the overall value of their business and be a key differentiator in a flooded market. It may also become a statutory requirement to...
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