Eight out of 10 financial advisers say the implementation of the RDR has affected their business but 90 per cent are confident about the future, a survey suggests.
Of the 350 advisers that were surveyed by the SimplyBiz Group, only 12% said that feedback from clients with regards to new remuneration models had been negative, with nine in 10 bullish about their future prospects.
Research showed a small drop off in adviser numbers at the turn of the year (a 2% reduction in members against industry figures of 15-25%) and most seem to have adopted to the new way of working.
With regards to permissions, 83% of those surveyed indicated that they had not changed in the last year, nor did they foresee any changes in the future. RDR has done little to change advisers' status, Simply Biz said, with only 6% offering a restricted model.
{desktop}{/desktop}{mobile}{/mobile}
Some 80% said they received their initial adviser charge as a percentage of the amount invested for retail investment products, with 61% taking a percentage of funds under management as their ongoing service. Of this, 32% indicated previous trail commission.
Joint managing director Matt Timmins said: "From speaking to advisers in the field, there is a defiant air of optimism almost across the board, which is echoed in our survey results.
"Advisers have always been resilient and most have taken the changes brought about by the RDR in their stride and are seeing an increase in business as a result."
Marketing director Richard Ardron added: "While advisers remain bullish about the future of their firms, it is clear that there is a trade-off between profitability and workload.
"The issue of maintaining revenue while operating in an efficient manner was a strong concern for many advisers. As a result, SimplyBiz will continue to develop and launch a number of added-value initiatives for members, while exploring new areas to assist advisers in generating valuable new income streams, such as auto-enrolment."