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IFAs adamant they prefer independence to multi-ties

IFAs are overwhelmingly in favour of staying independent and have strongly rejected multi-tying in a survey by Axa.

Its research shows that 82 per cent of IFAs want to remain independent and only 18 per cent would opt to multi-tie in a depolarised industry.

The vote echoes research commissioned by Money Marketing over the last two months.

Axa questioned 100 advisers in March about the impact of CP166 on their businesses. Although 94 per cent said they anticipate fundamental change which might involve selling all or part of their firm, the majority plan to stay independent.

George Street Research&#39s recent survey for Money Marketing showed that 68 per cent of IFAs plan to make no changes to their businesses after depolarisation. The annual State of the IFA Nation poll by One Account and Money Marketing found that 77 per cent of IFAs would not consider multi-tying.

Burns Anderson chief executive Ian Parsons says: “I am not surprised by these results. There is an overwhelming will for independence to remain. It is a good, healthy sector which has been and will be profitable.”

Axa director of sales and client management Gary Tarleton says: “The results suggest a limited number of IFAs will adopt a multi-tied status. This reinforces our view that the dash to buy stakes in IFAs may not be as beneficial as some had thought.”

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