Financial crisis sparks execution-only to advice switch

Long-term clients of the firm's execution-only brokerage were motivated to seek advice as the credit crunch diminished risk appetite among investors accustomed to the low-volatility environment of the past few years. "There are many people who were happy managing their own investments but after Northern Rock's collapse sparked mayhem in the credit and stock markets, they have decided that perhaps it is a good idea to seek help," says Helen Richardson, a director and IFA at the company. She adds: "Many had taken on more risk than I think they appreciated and have been keen to have that...