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Quarter of advisers will turn focus to high-value clients

A quarter of advisers say that they will cut their client numbers due to the retail distribution review.

Research from Skandia’s latest Trailblazer roadshow suggests that 25 per cent of advisers intend to focus their proposition on fewer customers who are higher value.

Forty-three per cent say concentrating remuneration on fees and trail commission and moving away from front-end commission will be beneficial.

Fifty-three per cent of advisers agree with the proposals for adviser charging, 10 per cent operate a fee-only model already and 36 per cent say that the current system should not be changed.

Skandia chief development officer Peter Mann says: “Advisers will be taking a more targeted approach to their client base and looking to advise fewer clients but on more of their wealth, very much in line with the new model of advice.”

Baronworth Investment Services director Colin Jackson warns that a mass move towards servicing the higher end of the market may leave many consumers without advice.

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