Hidden gems in Sandler report

The 222-page detailed Sandler report has caused much discussion over the past few weeks. In this issue we look at some of his comments with regard to intermediaries, their role and the developments which have led to the FSA's move to a depolarised world. The IFA sector is characterised by a high degree of fragmentation, according to Ron Sandler. Of an estimated £3.4bn of IFA turnover, the top four intermediary firms generate only 6%. The number of active advisers stands at some 26,000, working in an estimated 11,000 firms. With 37% of IFAs operating as sole practitioners, the re...