View more on these topics

Firms leaving vacancies unfilled

Half of adviser firms are not hiring new staff when vacancies occur and only a third are still taking on new recruits, according to George Street Research.

The firm’s survey of over 200 IFAs shows 52 per cent of firms are leaving vacancies empty. It says national IFA firms are more confident than smaller firms, with 63 per cent filling existing jobs.

The research shows 15 per cent of firms are putting on hold plans to change their business model to a new style because of the market turmoil while 29 per cent have no plans to change model regardless.

Over a third of IFAs – 37 per cent – believe the retail distribution review should be postponed because of the market conditions although 51 per cent do not agree there is a need for a delay.

Paladin Financial Services managing director Tim Purdon says there will be casualties in the advice sector but he believes the downturn is creating opportunities.

He says: “The financial environment has created greater demand for financial advice so those who survive the current climate will be in a strong position.”


No repayment plan on interest-only

Nearly half of the UK’s 2.9 million interest-only mortgages have no specified investment vehicle to pay off the capital, according to research from LV= by CEBR.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm