New business opportunities will arise for advisers as higher unemployment historically follows an economic recovery, IN Partnership's Kevin McDonagh says.
According to the Group CEO, when an economy starts strengthening following a recession, employers slash jobs to become leaner and meaner. Enterprising advisers are those actively seeking to connect with individuals at risk of losing their employee benefits, explains McDonagh. He says: "After the last three recessions, unemployment rose as companies cut staff to clean house. The most obvious increase is in the number of people with large redundancy packages to invest. We have already seen our investment side roaring ahead. "But in a job loss an individual could also lose their work...
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