Stakeholder prompts consolidation

Product providers believe stakeholder will be the latest spur to consolidation within the intermediary market. Clerical Medical estimates IFA firms could see revenues decline by 20% with the introduction of stakeholder. Clerical Medical is expecting the number of IFA firms to fall to around 2,500 over the next five years from the current level of 4,500, as firms merge to combat the cost pressures on the sector. David Shelton, head of marketing at Clerical Medical, said intermediaries should look to the future with an assumption that their revenues will fall by 20% as a result of stakeho...