1/2 of adviser businesses claim they won’t grow
Exclusive Research, commissioned by Foster Denovo, highlights that 8% expect to cease trading, and a further 45% will see their business either contract or remain flat, following the Retail Distribution Review.
Some eight per cent of financial advisers expect to cease trading in the next three years, according to research conducted by the national firm of financial advisers, Foster Denovo Limited.
A further 45 per cent will see their business either contract or remain flat as they struggle to adapt to the changes imposed by the Retail Distribution Review (RDR).
Only 47 per cent of advisers questioned anticipate growth, while 43 per cent indicated that it will be difficult to maintain profitability, and the same number stated that it will be a challenge to generate more revenue per client.