Advisers and intermediaries on lower incomes are significantly more likely to exit the industry post-RDR than their peers, according to research commissioned by the FSA.
The study by RS Consulting, based on interviews with 1,042 retail investment advisers (RIA) in July and August, suggests that, while 97% of those earning more than £125,000 intend to remain in the industry, the figure drops to 88% for those earning between £41,000 and £80,000, and just 75% for those on up to £40,000. The researchers pointed out that the lowest earners were disproportionately found in the largest firms, with a third employed by businesses with 500 or more advisers. There was also a significant contrast between the age groups when it came to confidence in remaining an R...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
