Early data from the FSA’s RDR readiness research showed that there were 35,899 RIAs in late summer 2012.
The figures, from the regulator’s final RDR newsletter, showed 89 per cent of RIAs said they were definitely or likely to remain in the business, while 6 per cent would leave and the rest would retire as planned.
As of November/December 2012, 93 per cent held an appropriate qualification, 2 per cent were awaiting results on their final paper and 2 per cent were still studying. A few advisers still needed to complete gap-fill and 3 per cent of advisers did not intend to take an appropriate qualification.
About 500 intended to qualify after the 31 December.
The FSA said a full report would be released shortly.
Linda Woodall, head of investment intermediaries department, said: “It has taken six years to review the market, to put in place rules and then give advisers and firms time to prepare. I am very encouraged by the results of our adviser readiness survey, which will be published shortly. It shows that the vast majority of advisers have embraced the changes and worked hard to get an appropriate qualification.”
