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Broker

Do you agree with Simon Hudson’s view that IFAs are writing half as many cases but these are now double the size compared with five years ago?

Yes: 25%
No: 75%

No “I don’t think I do. It is not really the case for me, other than the fact that most clients are middle-high to high-net-worth clients anyway so cases are going to be bigger, of course. I am not sure, though, that the number of cases has reduced.”
Thomas Caroll, S J Sykes Financial Advisers

Yes “Advisers have become more selective about the type of clients they want to deal with.”

Bruce MacFarlane, Capital Trust Financial ManagementYes “Advisers are concentrating on higher-value cases because they have to be more cost-effective due to increased regulation and admin costs.”
Eugene Goodwill, Eugene Goodwill IFA

No “I would not agree with that. I have found that the volume of business increases substantially each year. I would say that other advisers in the company have found the same. There are more cases now.”
Jenny Macauley Kingdom Asset Management

Yes “I agree with Simon, we are writing less cases than before but these cases are more profitable, mainly due to the regulatory burden with has been placed on us over the last few years.”
Alan Sensicall, ADS Financial Planning

No “Not 100 per cent. People who are looking for independent advice certainly are more high-net-worth, which might explain the bigger case size, but they are also quite happy to be able to pay by a fee. I have not been writing half as many cases anyway.”
Maureen Marsh, Maureen Marsh Financial Planning

No “We have not noticed any big changes. We tend to deal with wealthy clients and on a case by case basis and have been fee charging for a long time now.”
Paul Farrant, IFPC

Money Marketing welcomes readers’ letters for publication. Letters should be sent to: The Editor, Money Marketing, 50 Poland Street, London, W1F 7AX.

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