Forget the FSA, stakeholder, the Government, the end of endowments and commission as we know it - the biggest threat to IFAs business is stress.
Advisers are being urged to douse themselves in therapeutic oils to combat stress following research by The Association of Insurance and Risk Managers that says stress represents a bigger threat to UK businesses than e-commerce, IT malfunctions and industry consolidation.
And Bupa has chimed in by urging them to become “new men” to cut down on stress.
The Association interviewed its 900 members drawn from the fields of industry, commerce and finance and found 88 per cent rated stress among employees as the biggest threat to their organisation.
The findings have prompted stress counselling experts to issue top tips IFAs can utilise, such as frequently splashing their wrists with essential oils through out the day and smelling them to help keep relaxed and investing in executive toys to keep their physical and mental well-being in check.
They also advise intermediaries to take time off to eat their lunch away from their desk, look out the window every 20 minutes to rest their eyes and become more adept at separating work life from home life.
Bupa professor of organisation psychology and health Cary Cooper says: “IFAs need to be new men and support their partner by being able to separate work and home life and also to learn to live with job insecurity.”