At the IFA Consortium Key Adviser Forum in Rome, joint chief executive Allen Rosengren told delegates that IFAs will emerge strongest from the economic crisis.
He said: “In terms of our own profession, IFAs will win. Whichever way we look at it, we are the holders of the relationship with clients and we will continue to service those clients to the very best of our ability. The time for that servicing has never been as clear as it is now.
“We are seeing some huge major organisations having to consolidate into some big units. We have seen some enormous businesses go bust and the landscape will look very different at the end of all this.
“Who would have thought that some of the biggest names in financial services would cease to exist in the last 12 months or be bought by others? However, in a situation like this, there are also a lot of opportunities.”