View more on these topics

Survey will set out a league table of IFAs

IFAs will be ranked in terms of efficiency and profitability under a new study being launched by the Institute of Financial Planning, Aifa and Clerical Medical.

A survey, run by Advisor Impact, will be sent to around 5,000 businesses on the databases of Aifa and IFP and will ask questions about each firm&#39s profitability, productivity, RI productivity, use of time, business efficiency and cost management.

It will group IFAs by size and by turnover to benchmark their performance against that of similar business. IFAs will be able to compare themselves with the market average and the best in the market Clerical believes this is the first time that such an extensive survey of the IFA market has been carried out.

The survey is going out to IFAs this week and preliminary results will be presented at the IFP conference on October 6 and 7.

The IFP is also keen to talk with IFA firms and banks about how they can develop their service to clients through financial planning.

Chief executive Nick Cann has been in talks with Lloyds as well as Grant Thornton, John Scott & Partners and Park Row among others about how they can develop their advisers.

Cann says: “As depolarisation starts to happen and we see the different ways that people are approaching their clients, we will pick up conversations that we have been having with people about the financial planning side. This is not just with the independent advice parts of banks but also with leading IFA firms.”

Clerical Medical head of intermediary strategic planning David Shelton says: “The survey will enable IFAs to see where they stand in comparison with the rest of the market.”


IFAs paying FSA fees by direct debit will not be penalised

Many of the IFAs who have not yet paid their FSA fees will not face penalties bec-ause they are paying by direct debit while some companies have not yet received their invoices. Last week, FSA mana-ging director David Kenmir said only 388 IFAs had paid their fees despite 3,627 invoices being sent out. The deadline […]

Women wanted for the third Wig annual award

Entries are open for this year&#39s IFA Woman of the Year award. The Women&#39s IFA Group award is now in its third year and recognises the growing success of women IFAs, with entrants judged on technical proficiency, applied knowledge, communication and understanding of industry issues Nominations close on September 30 and entries close on October […]

Correspondent&#39s View

Monday morning finds me staring into a BBC camera with the words “financial expert” quite ludicrously tagged next to my name. The camera rolls and with that fake self-assurance I learnt from Carol Vorderman when she once recorded a show from my Islington bedroom (and that is absolutely true), I start my expert analysis of […]

Santander admits that its takeover of Abbey would slash adviser sales

A takeover of Abbey by Santander Central Hispano would see the Spanish bank cutting down significantly on distribution through intermediaries. A Santander analyst presentation at the end of July says the bank would want to increase the proportion of business done through branches from the current 35 per cent to 50 per cent. This would […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment