The future of some advice firms is in doubt as the profession is forced to tighten its belt to cope with coronavirus, writes Carl Lamb. Here he explores why some firms will go under, what the regulator should do and why advisers must still go above and beyond for clients
The world has changed for everyone now that we are in the grip of the coronavirus pandemic and it is difficult to think about anything else in these challenging times. Whilst we are all concerned for the health of our family and friends, as independent financial advisers, we have two main worries resulting from the turbulent markets we are seeing at the moment: the survival of our business and the stability our clients' financial affairs. It's apparent that a strong balance sheet may make all the difference to our own survival. Many firms - the vast majority - are using fee models ba...
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