RSM Tenon: 2011 'particularly challenging' for advice arm

His comments follow this morning's results which saw revenues for full-year 2011 down 8.8% to £208m. RSM Tenon's financial management division has been cut to 63 advisers from 85 last year. It makes up one eighth of the business and accounts for £25m in turnover.  In the last year, the division has seen a full replacement of the management team and has "embarked on intensive internal training for the Retail Distribution Review (RDR)" with a focus on the fees proposition. Some 95% of advisers are now RDR level 4 qualified and 92% have their statement of professional standing.  Me...