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Advisers confident despite volatility

Over half of financial advisers are confident that this year will turn out to be good for business despite the market volatility.

Teamspirit’s Hopes and Fears Influence research shows that 58 per cent of advisers have an optimistic outlook.

Sixty-three per cent say that the health of the UK economy is their biggest concern, with regulation and new business generation as the next biggest worries.

The research, which surveyed 200 financial advisers, shows that 43 per cent of advisers fear the retail distribution review will have a negative impact upon business but 70 per cent intend to adopt the professional financial planner model.

Over three out of five advisers believe that the treating customers fairly requirement will have a helpful influence on their business.

Just over half of advisers consider retirement solutions and Sipps to be areas that will see most growth, followed closely by protection and mortgage advice.

Teamspirit chief executive Joanne Parker says: “It is encouraging to hear that the independent sector is confident about its future despite the anticipated recession.

“Our research shows that the role of a advice is ever more in demand when we are faced with difficult economic times.”

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Crunch time

This week has seen seven of the biggest UK mortgage distributors joining forces to call on mortgage brokers to understand and make allowances for the huge strain the credit crunch is placing on lenders.

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