Investing
Advisers will not dump middle-class savers, says watchdog
Written By:
Your Money
Posted:
Updated:
19/11/2012
The majority of financial advisers will not dump less wealthy clients as a result of the Retail Distribution Review (RDR) according to the Financial Services Authority.
A survey from the watchdog, seen by the Sunday Times, found 63% of advisers plan to retain clients with savings and investments worth between £20,000 and £75,000. About 40% said they would work with people who had less than £20,000.
This contrasts to the Deloitte poll which found 5.5 million people would be left as ‘financial advice orphans’ after 1 January.