Clarion: Struggling advisers looking to merge post-RDR

Clarion Wealth Planning receives regular calls from advisers who have decided they can’t deal with the additional requirements of the Retail Distribution Review and are seeking to sell or merge their firm in order to survive.

In an interview with FTAdviser, published today (11 January), Ron Walker, managing director of Clarion, said he hopes to take advantage of the interest to double its adviser base from five to 10 advisers in the next 18 months, and almost quadruple the company’s funds under management over the next four years.

He said: “One thing that the RDR has done is it’s pushing a lot of people towards Clarion, advisers who want to sell their business or merge. We are being approached quite a lot by firms who are realising RDR has some real difficulties for them.

Article continues after advert

“We are small enough to care and big enough to do the job. We acquired SDJ which was precipitated by the RDR. [Stephen Jackson, managing director of SDJ] could have kept with RDR but faced with the plethora of things that had to be done he saw the light and approached us. It worked out best for everybody because he has our infrastructure.”

Currently Clarion has about 100 clients for each of its five advisers. As that adviser base grows, Mr Walker hopes to keep that ratio in line.