An adviser estimates his two-adviser firm is set to make £100,000 in revenue from auto-enrolment business next year alone.
In an interview with FTAdviser, chartered financial planner Peter Curtis of London-based IFA IDFM said automatic enrolment is one of the biggest opportunities for advisers.
To take advangate of the potential business produced by auto enrolment, Mr Curtis plans to hold seminars at the Bermondsay Street Hotel and invite local businesses along.
He then plans to appraise the businesses, outline what they must do to comply with auto enrolment rules, and how services offered by IDFM could be of use.
Mr Curtis said: “That will be a very good project. A lot of IFAs are turning their back on auto enrolment but I see it as one of the best opportunities we have ever had.”
In anticipation of growing his business Mr Curtis recently took on another adviser who had left HSBC during the bank’s restructure.
Mr Curtis said: “You have some things that are very badly handled by the regulator, like the increase in the amount of paperwork for every deal which has led to this increase in entry level. But then you have other opportunities like auto enrolment.
“So a good practdical businessperson has to say any business has its opportunities and things that really annoy you, but you’ve got to kind of pick up the ball and run with the opportunities and not get too deterred by the negatives.”
The full interview will be published later today.