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Thursday, 29 August 2013 10:25
Rowanmoor finds increased adviser activity post-RDR
SSAS provider Rowanmoor has found over half of advisers agree the RDR has increased adviser activity.
This follows findings by the Financial Conduct Authority that the number of retail investment advisers has increased by five per cent since December 2012.
In December 2012, there were only 31,132 advisers and this has since increased to 32,690 in July 2013.
Surveying 200 advisers at workshops on SSASs, Rowanmoor said advisers had a generally positive view of the industry post-RDR.
Some 35 per cent said the potential negative impact of auto-enrolment on small businesses was the biggest issue facing pension advisers working with business owners.
Rowanmoor has recently launched an auto-enrolment administration service for Nest accounts to help employers and advisers.
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Other problems included the reduction in lifetime allowance and annual allowance and cashflow to small businesses.
Robert Graves, head of pension technical services at Rowanmoor, said: "The advisers we met had a generally positive view of the industry post-RDR which is encouraging and supported by recent FCA research revealing that advisers have re-entered the market since the implementation of RDR.
"The reduction in lifetime and annual allowance from 2014-15 is evidence of another moving goalpost and a further protection regime to adapt to; we understand it is difficult for advisers to help people provide for their future when the goalposts are moved as often as they are."
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This follows findings by the Financial Conduct Authority that the number of retail investment advisers has increased by five per cent since December 2012.
In December 2012, there were only 31,132 advisers and this has since increased to 32,690 in July 2013.
Surveying 200 advisers at workshops on SSASs, Rowanmoor said advisers had a generally positive view of the industry post-RDR.
Some 35 per cent said the potential negative impact of auto-enrolment on small businesses was the biggest issue facing pension advisers working with business owners.
Rowanmoor has recently launched an auto-enrolment administration service for Nest accounts to help employers and advisers.
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Other problems included the reduction in lifetime allowance and annual allowance and cashflow to small businesses.
Robert Graves, head of pension technical services at Rowanmoor, said: "The advisers we met had a generally positive view of the industry post-RDR which is encouraging and supported by recent FCA research revealing that advisers have re-entered the market since the implementation of RDR.
"The reduction in lifetime and annual allowance from 2014-15 is evidence of another moving goalpost and a further protection regime to adapt to; we understand it is difficult for advisers to help people provide for their future when the goalposts are moved as often as they are."
• Want to receive a free weekly summary of the best news stories from our website? Just go to home page and submit your name and email address. If you are already logged in you will need to log out to see the e-newsletter sign up. You can then log in again.
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