Adviser confidence is growing in the early post-Retail Distribution World, with more than 80 per cent of intermediaries responding to a survey at a series of national conferences in February saying they feel more optimistic than they did a year ago.
The survey, conducted throughout February at conferences organised by platform provider Ascentric and attended by more than 300 advisers, found that 82 per cent reported feeling “more confident” than they did one year ago.
Additionally, two out of three advisers said the RDR had forced them to make a positive change in their business model.
Notwithstanding the broadly positive response to general business prospects and proposition, however, 43 per cent cited their key post-RDR challenge as growing their client base, while one in four advisers said the biggest challenge would be maintaining revenue streams.
Mike Morrow, sales and marketing director at Ascentric, said: “With RDR now in place, this survey points to real optimism in the adviser market as firms reap the benefits of the hard work they have put in over the last few years in re-orienting their businesses and reclaiming more and more of the value chain.
“This survey suggests that revenue generation remains a concern, something that is only likely to increase as the post-RDR environment opens up the traditional adviser client base to further competition.
“To achieve future business targets, adviser firms may need to access new markets and diversify their business model, an area that I believe platforms will be uniquely well placed to support.”
