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59% Of over-55s to stay on after RDR

The FSA has revealed figures showing only 59 per cent of advisers over 55 plan to stay in the industry after the RDR compared with 82 per cent across all age groups.

The FSA submitted the figures to the Treasury select committee as part of its evidence on the RDR.

The figures, from an NMG Consulting survey of 780 advisers in June 2010, shows the age profiles and likely reactions of advisers to the RDR.

The age ranges of all 48,000 tied, multi-tied and independent advisers shows the biggest group of 35 per cent are in their 40s.

IFAs have an older age profile with 14 per cent aged 55 to 59 and 18 per cent aged 60 or over.

The TSC says: “The RDR appears to have led to more of those aged 55 or over retiring earlier than planned or stopping advising on retail investments.”

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