Contrarian Investor: The workplace advice gap

CONTRARIAN

clock

Workplace pensions should be a phenomenal opportunity for independent advisers. I spend a huge amount of time talking to the bosses of small- to medium-sized enterprises (SMEs) and two distinct messages come through loud and clear. The first is they know auto-enrolment is coming but they are not sure what to do about it - and are even less enthusiastic about the idea of getting involved with their employees' pension planning.

Yet that general disinterest pales in comparison with their ingrained hatred for the large banks AND financial institutions. In fact, I get the general impression most employers would rather sell their souls into perpetual damnation than give their high street banking partner a look-in. The problem is, that opportunity is not translating into actual business for many adviser networks. A recent report by The Platforum on workplace savings platforms was full of optimistic assessments about the future – with assets potentially doubling by the end of 2012. But the stats told us all we really...

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 RDR

RDR ten years on: An advice industry changed for the better
RDR

RDR ten years on: An advice industry changed for the better

'The end of the advice industry as we know it'

Kevin Silvester
clock 08 February 2023 • 2 min read
RDR

Deja vu: Are we heading back to the future on commission?

Marty, fire up the DeLorean

Tim Sargisson
clock 13 January 2016 • 3 min read
RDR

Blog: How can we shrink the advice gap?

The advice gap has been a popular topic since the Retail Distribution Review, but hasn't this gap always existed?

clock 02 November 2015 •