People Moves

UK Financial Advisor Group Passes Landmark, Eyes More Growth As RDR Looms

Tom Burroughes Group Editor London 29 March 2012

UK Financial Advisor Group Passes Landmark, Eyes More Growth As RDR Looms

Charles Derby, the UK financial advisor, now boasts more than 200 advisors - 204 - in its network, the firm said nine months after the business was launched in July 2011 and as it argued that regulatory change is driving its asset growth.

Charles Derby, with £600 million (around $950 million) of client funds under management, is aiming to reach £850 million of assets under management by the end of this year as new advisors come on board, it said in a statement yesterday.

The firm issued the advisor and asset figures to claim that its business model will benefit from the programme of reforms to wealth management in the UK from the Retail Distribution Review. The RDR, which is designed to increase advisors’ qualifications and stamp out the use of commission payments, has forced some IFAs to go out of business or sell up, also encouraging network and franchised business models to gain market share.

“With the Retail Distribution Review coming into force at the end of this year, Charles Derby has seen an upsurge in advisors wishing to join its business model and benefit from the training, technology and business support offered by the firm,” it said.

 

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