Over a third of IFAs (38%) have said they will focus more on group risk and employee benefits after the Retail Distribution Review comes into force in December 2012.
According to the Protection Review's and Personal Finance Society's joint research into IFA's views on protection, 41% expected firms to employ protection specialists, while 58% said more advisers will specialise in protection post RDR.
Discussing the survey of 764 advisers, Andy Couchman, co-chairman of the Protection Review, acknowledged being a financial adviser is currently fraught with challenges, including "the RDR, market consolidation, the economy, State reforms and the ever-present threat from the banks and others."
He said: "No surprise then that advisers are not as bullish this year as their reputation for optimism might otherwise suggest.
"Dig deeper though and there is more cause for optimism. Ask advisers to consider the effects of some of the big changes happening around us and the responses are much more positive. That is one of the key findings in this year's survey."
The survey found only 11% of advisers said they expect to write less protection business post RDR, while 57% of advisers said RDR will have no impact on their earnings
