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Here comes the sun…but IFAs are too busy for holidays

Two-thirds of IFAs will not take a summer holiday this year due to work pressures.

A survey by employment law firm Peninsula found that just 26 per cent of IFAs are planning a summer break. Of those who will be staying at home, 66 per cent said they are too busy to go on holiday due to work deadlines and client pressures.

The survey of 811 national advisers was conducted by Peninsula in conjunction with Portfolio Payroll, the financial recruitment company.

Portfolio Payroll says while clients may appear to benefit from the dedication of their adviser, quality of work may suffer if they do not take a break.

Compared with 2000, when 54 per cent of employees in IFA firms planned to take a summer vacation, intermediaries are now putting work higher up their list of priorities.

Portfolio Payroll managing director Danny Done says: “This shift of emphasis has its pitfalls for employees and employers alike, with employees facing an increased likelihood of stress and burnout while employers are left to pick up the consequences. With adequate training and procedures put in place by employers, employees’ fears associated with taking time out can be put at ease and their absence can be accommodated by the company’s resources.”

Talbot Insurance Services partner Howard Cook says: “Workloads are increasing, with the growing amounts of regulation and bureaucracy around. With shrinking pro- fit margins, you have to write even more business to stay still. Do we work to live or live to work?”

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