A huge 265 of the UK's top IFA firms will end the year in financial difficulty with a further "spike of failures" in the new year, says a report by Plimsoll.
The grim forecast comes as part of its assessment of the top 1000 IFA companies and how they are positioned going into 2010, with many doomed to fail, according to Plimsoll. "Having clung on through the bad times many of these struggling companies are going to run out of time and fail just before the recovery really takes hold," says author of the analysis David Pattison. "Sadly, some of them are just too weak to carry on and there will be a spike of failures in the new year." But he goes on to say the remaining companies will benefit from the reduced competition. Amongst the lo...
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