According to a report from NMG Consulting, just 20% of clients have reacted negatively to the changes, compared to 43% of advisers.
Pessimism among the adviser population has decreased however, as half said they had been negative towards the legislation prior to it becoming law.
The report found 26% of clients had reacted positively to the changes introduced by the RDR, and 67% of advisers stated they had not lost any clients as a result of adviser charging.
Significant client loss has, however, been an issue for a small proportion of advisers as 7% stated they had lost more than 10 clients.
Client loss has been more concentrated among advisers that have been negative towards the legislation since the outset, as 11% of pessimists losing more than 10 clients compared to 3% of optimists.
Half of advisers expected RDR compliance to be onerous, and of these respondents 48% said their expectation had been accurate and a further 38% stated meeting the requirements was more challenging than expected.
The role of some participants has changed as a consequence of RDR, as 10% of advisers and paraplanners have decided to advise solely on mortgages, general insurance or protection or move into a non-advised management role.
Yesterday we revealed the impact of the RDR on adviser numbers – find out more here.
