Retail investors in the UK are now paying over a fifth less in annual fund fees as a result of the introduction of the Retail Distribution Review (RDR), according to analysis by online investment platform rplan.
Taking part in a survey conducted by Cofunds, 60% of advisers revealed that their businesses are more economically viable than 18 months previously, despite more stringent regulations and significant changes to pensions landscape. Paul Stanfield, chief executive of the Federation of European Independent Financial Advisers, said that increased profitability was unsurprising and showed that advisers…
Hargreaves Lansdown posted a 7% rise in pre-tax profits to £209.8m for the year to end June, with total assets under management climbing 29% to £46.9bn.
The amount of financial advisors employed in the UK has gone down by 20% since 2011.
Regulations should be pared down and costs reduced to foster a competitive and sustainable adviser market, a report compiled by APFA revealed.
Following the barring of retail distribution fees in 2013 in the UK, the number of financial advisers has dropped by more than 20%.
Mifid II is, even before implementation, already triggering plenty of unease amongst Europe’s asset management industry.
