'Perfect storm' leads to surge in advisers joining networks

Regulatory pressures

clock • 4 min read

Interest in joining advice networks has soared in the past 12 months as regulatory pressures have created the ‘perfect storm’ for restricted advice, according to Quilter.

Quilter Financial Planning figures show a 60% spike in the number of firms wanting to join the network in the past 12 months compared to the same period 12 months earlier. Quilter head of recruitment and acquisitions Scott Stevens explains that a growing shift to joining networks was "fuelled by [the fact] it's becoming harder and harder to run a directly authorised business". "I think there will be a necessity [to join networks] because the paperwork now that surrounds retaining the independent financial adviser moniker is enormous," he continues.  "We are seeing more interest tha...

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