Nearly a third of advisory firms have lost clients due to RDR

Nearly a third of advisory firms have lost clients as a result of the Retail Distribution Review (RDR), according to research from GfK.

A survey of 430 advisers by market researchers GfK found that 30% of firms have already lost clients as a consequence of RDR requirements.  The research, conducted in June, also found that 57% of firms have existing clients who will be unwilling to pay for advice while 45% have clients who will be unable to. "The majority of adviser firms will lose some clients who are either unwilling or unable to pay for advice. On average, this will represent 14% of their client base," according to GfK. Nearly 40% of firms said they would be willing to try and combat this with the introduction o...