Business is booming for advisers, according to a poll that signals increasing profitability and confidence in the sector two years after the rule change doomsayers said would herald its demise.
Advisers' businesses seem to have successfully adapted to changes mandated by the Retail Distribution Review (RDR), according to the Investment Trends 2015 UK Adviser Technology and Business Model Report. Its survey of 900 financial advisers found that in the 12 months to May, a sizebale number said their profits, client balances and confidence had all increased. Three quarters of advisers reported a year on year increase in practice profitability in 2015, up from 65% in the previous year. Further reading: Advisers charging more post-RDR despite lower product prices Advisers are...
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