Advisers must innovate or become extinct, warns Progeny CEO

Watershed moment

Jenna Brown
clock • 1 min read

As the UK follows the roadmap out of lockdown the financial advice industry should not revert to previous ways of working and those that do "face extinction", according to Progeny chief executive Neil Moles.

He believes that the industry has been given a unique opportunity for change and it is essential now that advisory firms, providers and platforms embrace this with continued innovation and long-term thinking. Moles said: "I think many firms understand they are facing a watershed moment right now. The pandemic has shown us that we can change quickly if we want to and it will take a toll on those businesses who have refused to adapt or, even worse, who seek to go back to where they were before the pandemic. "If we don't progress and challenge the status quo, we risk the financial advice...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Feel Good Friday: BRI Wealth Management raises money for homeless charity

Feel Good Friday: BRI Wealth Management raises money for homeless charity

Firm has raised £650 for Let’s Feed Brum

Professional Adviser
clock 20 December 2024 • 1 min read
Bank of England holds interest rates steady at 4.75% amid heightened inflation

Bank of England holds interest rates steady at 4.75% amid heightened inflation

Interest rates remain the same

Sorin Dojan
clock 19 December 2024 • 2 min read
How can we help get younger generations engaged with financial advice?

How can we help get younger generations engaged with financial advice?

'Don't lecture or school younger clients. Advisers should be able to listen and guide'

Richard Watkins
clock 19 December 2024 • 3 min read