Advisers have been warned to start fixing any problems in their companies now to ensure they do not become a victim of insolvency in 2009.
According to restructuring specialists, the number of UK insolvencies will soar by 55% towards the end of the year; more than double the number before the credit crunch. However a new report published by business intelligence analysts Plimsoll Publishing suggests many of the 124 UK IFA companies rated as being at 'high risk of failure' can be saved if they start fixing their problems now. David Pattison, senior business analyst at Plimsoll, says IFAs need to understand the extent of the problems their firms may face. "A critical factor in this cycle is to understand the key measure...
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