There has been a 10 per cent rise in IFA Promotion membership since depolarisation.
Research from IFAP’s State of the IFA Nation survey shows that advisers are taking to online technology with a 10 per cent rise over the last year in the number of firms having an email address and a 16 per cent rise in firms with a web address.
The survey also reveals that this year, 16 per cent of consumers looking for an IFA have stipulated they wanted a fee-only adviser.
Chief executive David Elms says there has been a marked increase in consumer demand for specialist areas.
The number of firms advising on ethical investment has risen by 56 per cent, with 734 firms now offering this advice compared with 471 last year.
Elms says: “Over the last few years, the advice industry has rapidly changed. Regulatory changes coupled with a more informed customer, have led to IFA firms re-evaluating their business models.
“The client is king and IFAs are responding to consumer demand but there is still more that they can do.”