RSM Tenon has reduced its client bank by almost 70% as part of its segmentation process in the run up to the implementation of the Retail Distribution Review (RDR).
The company will see 'active' private clients reduced from 34,000 to 13,000 - a reduction of 68% - as part of a process that aims to streamline the advisory arm. RSM Tenon's 63 private-client advisers will have on average 100 clients each following this reduction, with the remainder (from 13,000) being serviced by the company's execution-only service. The company still regards these execution-only clients as active, as they will be provided with a channel via the execution-only website to be able to take financial planning advice if they need it. This reduction follows ongoing conv...
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
