Abstract
Introduction
Financial advisors have seen their business damaged by current market
conditions and are concerned about their future relationship with providers
during challenging restructures to business arising from regulatory burdens
and threats in distribution channels. Providers must actively offer adequate
support to IFAs in order to save the value of business.
Scope of this research
- Reveals IFAs' opinion of how the RDR will change the competitive structure
of distribution in the UK
- In-depth analyses of the relative attractiveness of various products
during the downturn and of the future competitive market structure.
- Benchmarks leading L&P and Asset Management firms in terms of their
product offerings and elements of service.
Research and analysis highlights
The most important trigger for visiting an advisor is for retirement planning
advice, with 70% indicating this as a very important factor
When advisors were asked who they see as the main competition for clients in
their market, 64% stated high street banks to pose the main threat for their
client base. This was followed by 53% of advisors who see the rise of online
price comparison sites as the main competitor for their client base.
A significantly large proportion of IFAs responded to say they anticipated the
RDR to leave a ' middle market' of clients who will have no access to advice
Key reasons to purchase this research
- Understand where IFAs' fears for the post-RDR world are coming from.
- Assess the opportunies for other competitors to seize market share from
IFAs.
- Access the results of Datamonitor' s Q2 2009 IFA survey.
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