The advice sector will begin expanding within 18 months but only after a period of steady retrenchment, according to Aviva's director of intermediary.
Speaking at a roundtable hosted by the insurer, Simon Badley said the next 12 to 18 months will be a "period of shrinkage" for the IFA market, as some advisers leave ahead of the RDR rule change at the end of 2012. But he predicts the advice sector will start to grow again "around 2013" as a new wave of IFAs enter the market from recently set-up university and training courses. Experienced advisers were warned they must be transitioning to the consumer agreed renumeration (CAR) business model now, if they want to stay in the market. Personal Finance Society (PFS) CEO Fay Goddard sa...
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