15th January 2014

Equifax: Benchmark Your Adviser Charging

Welcome to the New Year edition of the InTouch Intermediary newsletter, dedicated to keeping you up to date with the latest 
adviser-focused reports and features from Equifax UK. 

As we start 2014 it’s a good time to reflect on the first twelve months since the introduction of the Retail Distribution Review (RDR), as well as plan for the year ahead. 

To assist you with your plans and to help you better understand how your business is doing relative to your local and national market, MyTouchstoneprovides a wealth of intelligence, gathered collaboratively and confidentially from Intermediaries. 

Some of the reports available include:

Register here to access this free and confidential database, or read on for more news and updates

MyTouchstone is a free service available to FCA registered Advisers. Powered by the collective sales data of more than 75 major product providers and data shared by over 12,000 registered users, it provides a wealth of intelligence, gathered collaboratively and confidentially to help you better understand how your business is behaving relative to your local and  national market.  Some of the reports available include: • Adviser charging – Fee models used and charges both  local and nationally  • Restricted v Independent Advisers • Market share – local and national • Client hotspots • New business trends Register today to get free access to these reports. (All intermediary data is represented anonymously.)

POST-RDR WINNERS AND LOSERS

The Retail Distribution Review may not be new news, but we have found a lot of interesting trends around the introduction at the beginning of 2013.
For example, Touchstone data has revealed a trend in the volume of products advised pre- and post-RDR. 

Comparing adviser productivity in the first half of 2012 with the same period in 2013, showed that only 33% of all firms had an increase in adviser productivity (such as product and fund sales divided by number of advisers in a firm). 

Even more interesting was that during the first six months of 2012 the firms with a positive value accounted for 44% of all products advised and post-RDR this figure increased to 61%. If we use product sales as a broad proxy for turnover, the firms that have achieved productivity growth are also taking market share from those that appear to be less productive post-RDR. 

We’ll be monitoring this trend as we gather the full year's sales data for 2013 but the initial findings are that overall about a third of firms have increased their market share following the implementation of the RDR.

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