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Rural IFAs hit as foot and mouth shuts countryside

Rural IFAs fear the knock-on effect of the foot and mouth epidemic will be devastating for their local clients.

Farmers, related occupations and those employed in the rural tourist industry are all likely to suffer from the effects of the epidemic, leading them to cut back on financial provision, including pensions and investments.

Many rural IFAs claim they cannot even get around because of travel restrictions but they say they are doing their best to see their clients.

They think the effects of the outbreak of the disease could last for years as farmers struggle to get back on their feet financially.

Devon IFA Anstey Financial Planning principal Gerard O&#39Boyle says: “People are not as quick to commit money because of foot and mouth and are deferring investment.”

Chris Moxon, of Moxon&#39s in Skipton, Yorkshire, says: “Farmers make up 50 per cent of our business. I do not think the seriousness of the problem is understood. The Yorkshire dales are effectively closed down.”

Carlisle-based Cumbria Financial Management director Ian Logan says: “The Government has not addr-essed the problem and in the long term it could have an impact on us. This month, it has already wiped £15m off tourism in the area.”


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