New business opportunities will arise for advisers as higher unemployment historically follows an economic recovery, IN Partnership's Kevin McDonagh says.
According to the Group CEO, when an economy starts strengthening following a recession, employers slash jobs to become leaner and meaner.
Enterprising advisers are those actively seeking to connect with individuals at risk of losing their employee benefits, explains McDonagh.
He says: "After the last three recessions, unemployment rose as companies cut staff to clean house. The most obvious increase is in the number of people with large redundancy packages to invest. We have already seen our investment side roaring ahead.
"But in a job loss an individual could also lose their workplace pension, and various types of health cover, for example. IFAs are in a position to scoop up this business by offering stand-alone products, putting people in a much stronger state when they re-find work."
Steve Martin, chair of the Manchester and North West branch of the Institute of Financial Planning (IFP), and managing director of Smart Financial Planning, says one way of accessing this new business is to join the local Chamber of Commerce.
He says: "Get the Chamber to call a meeting with local businesses and do a two minute pitch on how they and their employees can benefit from coming to you.
But Martin warns against 'clumsy marketing': "Just saying, so you've lost your final salary pension, come see me and I'll sell you a personal one is no good."
He gives the example of Cadbury's employees.
"They could be losing their jobs in the Kraft takeover, they are not looking for someone to sell them a pension. They want to recreate the benefits they had at work and the income in retirement they would have enjoyed.
"Spend half an hour chatting with them free of charge. Explain you can review what benefits they had, as most people are unaware of even this, and what they may now want as an individual having lost it as an employee."
Martin admits his business has had limited success marketing to the 'outside world'.
Attracting new business out of economic opportunities is the same as attracting it at any other time, he says.
"Make existing clients the centre of your universe. They will tell their friends and word will get around so when they do find themselves needing financial advice, it will be you they call."
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