Responding to a delegate prediction that there will be just 10,000 IFAs in the future, Baxter, who recently joined the Macquarie group to develop the firm’s advice capability, branded this as “tosh”.
He said: “I think we are in an ageing demographic, crumpling welfare state. With increasingly complex financial solutions, there has never been a more compelling time for people to have advice and I think we will see a resurgence of the professional advice sector.
“I think this is a huge opportunity for us to demonstrate the value and importance and just how crucial it is to have the services of a good financial planner helping you make decisions.”
However, Baxter said that over the last 18 months he has been disappointed in a lot of the conversations he has had with adv- isers who have failed to recognise just how much suffering clients are going through due to the credit crisis.