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RDR prompts a quarter of IFAs to look at sales channel

A quarter of IFA firms will consider adding a sales channel to their business following the introduction of the retail distribution review proposals, according to Skandia research.

Of the 900 advisers surveyed at Skandia’s Trailblazer roadshow, 73 per cent say they intend to remain in the advice channel but 24 per cent say they will also look at a sales proposition to service clients alongside their independent advice operation.

Sixty-four per cent believe the FSA is wrong to blur the distinction between advice and sales while 30 per cent feel it is acceptable only where there is clear labelling for each channel.

Skandia chief development officer Peter Mann says the FSA has missed an opportunity to introduce a clear distinction between advice and sales.

He says: “It is encouraging, however, that advisers have a clear view of how they intend to take their businesses forward.”

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