Friday, 08 March 2013 10:03
Advisers divided by impact of RDR on industry
Half of advisers think RDR will have a positive impact on the financial services industry, according to research by Skandia.
Research conducted as part of the firm's Adviser Sentiment series surveyed almost 500 advisers on their attitudes to RDR.
It found 41.5 per cent of advisers thought RDR would have a positive impact and 8.6 per cent said it would have a very positive impact. A further 41.5 per cent thought it would have a negative impact and 8.4 per cent said they thought it would have no impact at all.
Skandia said those who were viewing the changes as positive were likely to be those who were already offering a fee-based business model.
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This indicates positivity could increase once all firms were fully transitioned to the new business model.
Some 38 per cent of advisers said they felt under more pressure to justify their fees under the new model. However, 40 per cent said they did not feel any more or less pressure and 23 per cent said they did not feel much or any pressure to justify fees.
Mike Barrett, platform marketing manager, said: "It is only natural that advisers have different perceptions on RDR at this stage. We are only a couple of months into one of the biggest changes the industry has ever seen, so it is bound to take time for businesses to adapt and evolve."
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Research conducted as part of the firm's Adviser Sentiment series surveyed almost 500 advisers on their attitudes to RDR.
It found 41.5 per cent of advisers thought RDR would have a positive impact and 8.6 per cent said it would have a very positive impact. A further 41.5 per cent thought it would have a negative impact and 8.4 per cent said they thought it would have no impact at all.
Skandia said those who were viewing the changes as positive were likely to be those who were already offering a fee-based business model.
{desktop}{/desktop}{mobile}{/mobile}
This indicates positivity could increase once all firms were fully transitioned to the new business model.
Some 38 per cent of advisers said they felt under more pressure to justify their fees under the new model. However, 40 per cent said they did not feel any more or less pressure and 23 per cent said they did not feel much or any pressure to justify fees.
Mike Barrett, platform marketing manager, said: "It is only natural that advisers have different perceptions on RDR at this stage. We are only a couple of months into one of the biggest changes the industry has ever seen, so it is bound to take time for businesses to adapt and evolve."
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