Many are likely to be put off by having to pay up-front for advice, and Cox says he expects that the number of investors who do everything themselves will increase. This view is supported by research from "The Platforum", which indicates that 72.2 per cent of investors plan to make some or all of their future investment decisions.
Cox admits that there are certainly merits of "do it yourself" investing, but thinks only those with time and experience should bypass advice.
"RDR means advisers can no longer take commission from product providers for the products they sell to their clients," he explained.
"As result of this change we expect some financial advisers to shut up shop, and the remainder may shift towards higher net-worth clients."
"A reduction in the accessibility of advice will lead to an increase in the numbers seeking to find solutions themselves."
"In our experience, when most people say they want advice, what they actually need is information to help them make their own decisions. Today, the vast majority of financial decisions can be made without the need to pay for financial advice and most people plan to manage all or part of their finances themselves."
"However, advice remains an important option."
"Investors should seek advice if they lack the confidence or time to do the necessary research themselves. In the more complex areas, such as transferring final salary pensions or estate planning, investors are more likely to benefit from advice," he added.
Cox says the issue of cost will be the biggest driver of DIY investing, but is concerned that many investors will not have the capabilities to make their own financial decisions.
Neil Shillito, director at SG Wealth Management, points out that DIY investing has been around for a long time and that certain types of investors have benefited from it. He thinks RDR should not make too much of a difference in that respect.
"I think when it comes to investors who want to do it by themselves, they split into two categories," he said.
"There are those who are very competent and have been doing it for many years. Normally, these types of investors have made the conscious decision to read up and keep up-to-date with the markets and their own investments."
"They have always been there so I don’t think there will be a sudden wave of investors who will shun advice and go it alone."
"We refer to these as retirement colonels, as they are usually older and have the time and the money to do so."
However, Shillito is concerned that new DIY investors may struggle to keep up-to-date with market trends.
"I do worry that there will be an element of the public who have read about the introduction of RDR – and without really understanding the exact implications – think 'well my advice was free last week and now it is going to cost me, so I shall do it myself'."
"I think that type of investor will unquestionably fall foul at some stage or another," he added.
"Tax structures and market conditions are ever-changing and keeping on top of them is a full-time job, so certain investors will inevitably struggle if they take on that task."