Predicted shortfall of ifas for uk
The UK faces a 20% shortfall of independent financial advisers which will potentially hit the baby boomer generation approaching or at retirement, according to research by Standard Life.
The UK faces a 20% shortfall of independent financial advisers which will potentially hit the baby boomer generation approaching or at retirement, according to research by Standard Life.
Clients are less concerned about the RDR than advisers as more than double the proportion of advisers remain negative towards the legislation than clients.
The UK's RDR is bringing about undoubtedly some of the most significant changes ever to occur in the UK financial services industry, says Simon Willoughby, head of proposition at AXA Wealth International.
New business sales of offshore bonds into the UK market last year ended up a fifth below 2011’s levels, which in turn were down more than 7% from the previous year, as investors shunned equities and similar investment products.
The Financial Conduct Authority is to launch a review later this year into instances where advisers are trying to circumvent the recently implemented Retail Distribution Review legislation.
RDR implementation and the partial loss of a mandate resulted in a subdued opening quarter for Jupiter Asset Management, as the firm reported net inflows of £209m for Q1 2013.
The number of UK-based financial advisers operating a restricted advice model has risen sharply since the introduction of the RDR at the beginning of this year, with that number predicted to continue to rise in coming months.
A worryingly high number of advisers in the UK believe the Retail Distribution Review, which was finally implemented at the beginning of this year, will have a negative impact on the financial services industry.
The Retail Distribution Review and the UK Government’s rhetoric on tax evasion were among the challenges discussed at a roundtable event held by International Adviser earlier this month.
The introduction of the RDR has changed how advisers are remunerated. Here, Canada Life’s Neil Jones explains how a trust can continue to pay its advisers.
Aviva Investors has launched an RDR-ready share class on four of its most popular offshore Sicav funds which is free from trail commission.
DeVere UK, the British branch of what claims to be the world’s largest IFA company, has issued its “top three questions to ask your adviser” for consumers in the wake of the implementation of the Retail Distribution Review.