Fewer Advisers & Less Advice

Forecast 2013: The new year will usher in new rules for advisers and a new reality for those seeking financial advice

Jonathan Davis 29 November, 2012 | 6:00AM

This article was written by Jonathan Davis from Jonathan Davis Wealth Management for Morningstar’s special series about the Retail Distribution Review (RDR) in the UK. It is part of Morningstar's "Perspectives" series, which is a series of articles written by third-party contributors. 

Over the next few years we should expect a 20% fall in the number of individually registered independent financial advisers (IFAs) who advise on investments, with the overall number of investment advisers falling by perhaps 40%. 

Recent data shows there are roughly 50,000 financial advisers in the UK, but in the next few years it wouldn’t be surprising for that number to fall to 40,000.  

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About Author

Jonathan Davis

Jonathan Davis  is a chartered financial planner and managing director at Jonathan Davis Wealth Management.

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