A legal firm, which recently launched as part of the St James's Place (SJP) network, has bought two financial services firms, fueling its plans to reach £500m of assets under management (AUM) in five years.
With transparency at the forefront, an increasing need to demonstrate value to clients, and charging rules changing, technology has never been more central to advisers' work, says IRESS executive general manager (wealth) Mark Loosmore.
The Association of Professional Financial Advisers (APFA) has warned the industry could yet lose more small firms as advisers say they are lacking confidence in their business models.
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The True Potential group has reported its net profit for last year was up 47% as it benefited from a drastic increase in adviser numbers.
In October Symponia launched its Legal Academy to help foster strong working relationships between advisers and solicitors operating in the later life market. Helen Morrissey talks to joint managing director Jeremy Davies about his plans for the Academy.
Advisers have stressed they are keen to become more involved in long-term care (LTC) advice, with a desire to be included in council referral lists, the Association of Professional Financial Advisers (APFA) says.
The Financial Services Compensation Scheme (FSCS) has declared a further 18 advisory firms in default.
There is a common misconception that financial advice is reserved for later life, but younger people could be missing a trick by delaying.
The percentage of advisers switching platforms increased from 21% to 29% over the past 12 months, according to data from to independent financial research company Defaqto.
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