IFP Conference: 'Profession' requires a new business model

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Turning the financial service industry into a profession will require intermediaries to change their business models and practices, say financial planners, as tomorrow's clients are likely to be more demanding and have a stronger idea of what they want out of life.

That’s the message emanating from today’s Institute of Financial Planning’s Forum For Success conference, being held in Hinckley, Leicestershire, as speakers say planners have to look beyond the production of financial reports and product selection to deliver client expectations for their own lives. Barry Horner, practitioner at Paradigm Norton Financial Planning, suggests the reputation of the sector is unlikely to eventually carry the same public image as the accountancy and legal professions unless business models change and intermediaries present a more ethical focus to the advice de...

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