The Cass Business School and BNY Mellon have just completed a wide-ranging piece of research into the impact of the Retail Distribution Review on the UK's financial market. Here IFAonline breaks down the key findings from the report.
1. Adviser numbers fell from 40,000 at the end of 2011 to 31,000 by the start of 2013. 2. An increasingly financially literate, richer and computer savvy clientele will offer fertile opportunities for those advisers who can demonstrate more rigorous and sophisticated propositions. 3. An average adviser expects to garner about £1,500 from each of roughly 150 clients each having £150,000 investible assets to sustain the £220,000 per year of gross revenue they require to function - but just 0.85m people in the UK have investible assets of more than £150,000. 4. Financial planning and ...
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