Adviser confidence is growing
6 December 2011
The results of a survey run by Ascentric show that advisers are now ‘more confident
about the financial services sector than they were a year ago’. The survey was taken at
the Ascentric Conference attended by more than 200 advisers in Manchester, Bristol
and London.
69% of respondents agreed with this statement indicating a growing sense of optimism
in the ability of advisers to handle the degree of change taking place in the industry as a
result of RDR. This result was reinforced by 88% of delegates who stated that they were
‘confident in the future direction of their business’.
The survey also showed that advisers were happy to operate a flexible fee structure
based on client requirements with 53% charging a mixture of hourly, % of assets and
fixed fee. Unlike other professional sectors, just 3% of advisers surveyed only charge an
hourly fee.
However, advisers still need convincing that social media is a way to broaden the reach
of their brand, with 37% of the audience disagreeing with the idea. The findings
supported the notion put forward at the conference by Philip Calvert, Founder of
networking site IFA Life, that the use of social media and the internet is substantially
underused by the financial services industry.
Commenting on the survey findings, Steve Billingham of Steve Billingham Consulting
said,
“What is really pleasing about this survey is that such a significant proportion of
advisers feel positive about the future direction of their business, which demonstrates
that they see themselves as "survivors" rather than "victims" of RDR.”
Dominic Ventham, Head of Marketing at Ascentric added,
“Change is inevitable under RDR and these findings indicate a growing level of confidence that advisers can use this time as an opportunity to refresh and revitalise their business. It also suggests a real belief that their value propositions will hold up in a fee paying world despite the difficult market conditions.”
-ENDS-
For further information, please contact:
Ascentric
Dominic Ventham, Head of Marketing
Tel: 01225 787208, Mobile 07590 227039
Email: dominic.ventham@ascentric.co.uk
Issued by Concise Public Relations
Tel 0207 100 3960
Martin Wood
Mobile: 07946 527240, Email: martin@concisepr.com
Notes to Editors
Ascentric and Fundsdirect are the trading names of Investment Funds Direct Limited
(IFDL).
Investment Funds Direct Limited was founded in 1982, and Fundsdirect launched as the
UK’s first online fund supermarket in December 1999. Since that time, the company has
built on their reputation as a leading UK fund supermarket to provide Independent
Financial Advisers (IFAs) with a Wrap platform under the brand name of Ascentric.
Ascentric is a Wrap platform, available exclusively to IFAs and offers a fully integrated
online investment management and dealing platform. It also enables IFAs to transfer
their clients’ assets onto a single platform to provide them with the ability to manage their client’s financial needs in just one place.
In October 2007, a majority holding of Investment Funds Direct Group Limited was
acquired by Royal London Group.
For further information about Ascentric and Fundsdirect, please visit either
www.ascentric.co.uk or www.fundsdirect.co.uk
Royal London Group is a specialist financial service provider. Its businesses focus on
those sectors of the market which value quality propositions, operating through a
number of brands:
• Scottish Life – UK pensions market
• Bright Grey – UK protection market
• Scottish Provident – UK protection market
• Caledonian Life – ROI protection market
• Royal London 360° – offshore investment markets
• RLAM – fund management
• Royal London Plus – life and pensions administration
• Ascentric/IFDL – Wrap Platform
• MoneyVista – online financial planning service for consumers
Royal London is the largest mutual life and pensions company in the UK with Group
funds under management of £44.2 billion. Group businesses serve around 4 million
customers and employ 2,950 people. Figures quoted are as at 30 September 2011.