New estimates put RDR adviser exodus at 3,000

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The RDR could drive up to 3,000 advisers out of the industry over the next five years, according to the latest estimates.

London-based CoreData Research UK based its findings on interviews with almost 1,800 practicing advisers, using that sample as indicative of the wider market. According to the study, 15% of advisers expect to leave the industry between 2013 and 2015, equating to a total of about 3,000. A further 17% were uncertain about their plans. A drop of 15% is in line with FSA estimates, but the regulator stresses a large chunk of this will be advisers who were planning to leave the industry anyway. CoreData principal Craig Phillips says a growing consensus consumers will be unwilling or unab...

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