Overstretched: Is there a solution to the adviser's dilemma?

Why do so many IFAs find the idea of setting up their own firm so irresistibly appealing?

clock • 4 min read

IFAs may not be born businesspeople but they don't really have to be, writes Andrew Goodwin

Anyone who dined at La Gavroche when it was run by Michelin-starred brothers Albert and Michel Roux would probably dispute the maxim that too many cooks spoil the broth. As a general rule, though, the old adage holds true. That's why you rarely hear of two chefs successfully co-managing a restaurant. It's why so many TV shows that throw chefs together tend to centre on them bickering with each other and conspiring to mess things up.  This is all quite easily explained. Being a brilliant chef doesn't automatically qualify you as a brilliant businessperson. You can have all the culinary...

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 Business

Friday Night Takeaway: Your culture and people are growing in value

Friday Night Takeaway: Your culture and people are growing in value

The editor's Friday Night Takeaway from 20 February

Jen Frost
clock 20 February 2026 • 3 min read
All the advice firm acquisitions that have taken place in 2026

All the advice firm acquisitions that have taken place in 2026

Keeping track of the ongoing consolidation in the advice industry

Professional Adviser
clock 19 February 2026 • 1 min read
Private equity outlook: Professional services set for 'interesting' 2026

Private equity outlook: Professional services set for 'interesting' 2026

'Expectations generally are that there will be greater deal volume in 2026'

Tom Whelan
clock 19 February 2026 • 5 min read