When asked for their opinion of the FSB’s RDR proposals, Sillitoe said: “222 IFAs answered this optional question, a staggering response and something we rarely observe when conducting similar studies in other parts of the world.”
The survey also found a majority of IFAs thought that cost pressures on investment platforms could lead to a major consolidation. However, 79% of IFAs saw technological change as the biggest opportunity.
It also found that UK regulations governing Qualifying Recognised Overseas Pension Schemes (QROPS) currently matter to only 14% of IFAs who actually advise clients on the transfer of pension assets to QROPS. However, nearly one third of IFAs expect that their QROPS business will grow over the coming 12 months.
