Contrarian: The decline of mass market advice

CONTRARIAN

clock

What will a sensible client pay for good financial advice? I do not doubt this is a hot button issue for anyone working in the financial services industry - indeed, I have asked this question many times before in this column, usually with a cautiously optimistic response.

My view had been that when push comes to shove, most sensible investors will eventually pony up to avoid making catastrophic mistakes with their lifetime savings. Yet, as the months go by, I am not so sure anymore. Maybe, just maybe, most investors really are far from sensible and, come 2013, they will collectively vote with their feet and head for the exit, piling into all manner of self-directed mayhem. My growing sense of fear was confirmed last week by a research report from commission rebate specialist InvestSmart, headed up by Tom Russell. The headlines from this survey, conduct...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Advisers sound alarm on £442m wasted on LoA inefficiencies

Advisers sound alarm on £442m wasted on LoA inefficiencies

Regulator should play ‘proactive role’ in addressing LoA inefficiencies

Sahar Nazir
clock 17 May 2024 • 5 min read
Feel Good Friday: Firms who made the Best Places To Work 2024 list

Feel Good Friday: Firms who made the Best Places To Work 2024 list

The Sunday Times’ research on the employers who meet key metrics

Professional Adviser
clock 17 May 2024 • 1 min read
Advice firms need to adopt 'operational excellence'

Advice firms need to adopt 'operational excellence'

‘Operations roles are critical to driving business success’

Isabel Baxter
clock 16 May 2024 • 2 min read