Independent financial advisers are like the Spartans from the film 300, suggests Patrick Connolly, as he paints a picture of the profession being attacked from all sides by different competitors.
The Chase de Vere certified financial planner and head of communications believes large restricted advice firms, product providers that offer direct-to-consumer propositions, and regulatory costs are all posing different threats to IFAs.
Connolly is the latest Adviser Champion to appear in Professional Adviser's new series of videos, which has most recently featured Embark Group's Phil Smith, Yellowtail's Dennis Hall and Nucleus's David Ferguson.
He goes on to concede the Spartans are not a perfect analogy for advisers, however - but unfortunately because the former are "very much a team". Independent financial advice is fragmented and disparate, he claims, and advisers spend too much time beating each other up and fighting among themselves.
"As an industry we should be more like the Spartans," Connolly says. "We should be working together more, we should accept there are different IFA propositions that work in different ways and charge different amounts."
"I would like to see more IFAs working together and that's not happening."
You can find out more of Connolly's thoughts on different aspects of the world of financial advice - including how he thinks the advice sector can go about being its own champion - by clicking on the video at the top of this page.
Professional Adviser's Adviser Champions series of video interviews offers insights into how figures from inside and around the world of financial advice see such issues as attracting new talent to the sector, the impact of regulation, the dangers of jargon and the challenges posed and opportunities offered by robo-advice.
To see the full set of Adviser Champions interviews to date, please click here
If you would like to put your own or a colleague's name forward for consideration to take part in the series, please do email Julian Marr
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