You only need to attend any marketing/networking event to see how “stretched” the advisory capacity is, most advisers spend their time looking for new clients not fighting off the “millions” of customers looking for financial advice. I reckon the maximum market place for advice is 2m to 3m which means at an average of 150 clients per adviser we still need to lose another 5000.
The answer is simple, although brutal - remove commission altogether, remove the ability of any provider to pay an adviser direct and let professional advice commence, as is common in law and accountancy.
Tony Slimmings
Director
WR Financial Management
Stockton-On-Tees
