Nucleus chief executive David Ferguson says the recent value erosion within the life sector has resulted in a plethora of opportunities for advisers to review the structure of the IFA-provider value chain.
While the life assurance sector could have been valued at close to £100bn a few years ago, Ferguson argues that it would be worth a quarter of this today.
This paired with the current economic climate means life assurers are under increasing pressure to scrutinise all expenditure and answer growing concerns from shareholders, says Ferguson.
He says: “‘If the IFA sector can focus on the bigger picture, it should ultimately emerge stronger from the current financial crisis. I believe the sector could greatly profit from the current weakness in the life sector and be more in control of itself than has ever historically been the case.
“‘What better time for quality IFAs to stamp their authority on the industry? Without doubt, the only people suitably qualified to help rebuild people’s finances long-term are IFAs with the appropriate skill-set and business model to act on their behalf. If ever there was a time to triumph over adversity it is surely now.”