Changes introduced as a result of the Retail Distribution Review (RDR) are likely to lower retail advisers' share of the investment market, but they do not represent the "death knell" for the sector, according to an investment group.
The need for advice among high value investors with complicated financial affairs is increasing as a result of tax and regulatory changes, meaning advisers are likely to remain the most important distribution channel by value of assets under management (AUM), according to Numis Securities. However, in a market update, the group said that a shift towards self-investing by small investors, which it defined as those with less than £100,000 worth of investable assets, will impact the advisory sector. "Post-RDR, we believe it will no longer be economic for many small investors to use the s...
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