IFAs forced into second jobs in troubled market - Bamford

Bamford, the Informed Choice joint managing director, says today’s economic turmoil is having a harsher impact on the adviser profession than many observers realise, with as many as half of the UK’s IFA firms in difficulty. He says advisers focusing solely on the protection or mortgage areas are being “massacred”. “I have spoken to a lot of advisers lately and I think the reality is worse than many people believe,” Bamford says. “I heard some have even had to take a second job, that’s how bad it is out there.” Bamford also feels November’s RDR recommendations will be a “double whammy” f...