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Survey shows advisers upbeat on RDR changes

Aviva found that 28 per cent of advisers have seen their client base increase post-RDR, with most of these attributing this to new clients looking for advice for the first time, as well as taking on the former clients of IFAs who have now left the market.

More than half (55 per cent) reported no significant change in the number of active clients they are servicing post-RDR, while almost two-thirds of advisers claim not to have lost any clients as a result of adviser charging.

Some 28 per cent reported only a very small loss. Just six months ago only 39 per cent thought their client base would not be affected at all.

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Andy Beswick, intermediary director at Aviva, said: “There is a sense of emerging stability from our latest barometer of findings.”

Dominic Basilea, director of St Albans-based IFA Aqua Wealth Management, said: “As I’m a very new firm – only 15 months – we’re fortunate enough that because of RDR, we’ve implemented everything from day one and we’ve seen a huge benefit.

“We’ve got new clients thanks to our menu. Clients have a good understanding of how we work. That makes them feel more comfortable. So it’s extremely positive from that perspective.

“I don’t think I can say I’ve lost clients, because as a new business my clients have followed me. Even new clients come to us because they understand. There’s a bigger awareness of what they can expect. It’s been in the news and they’ve shopped around: what an IFA does and charges.”