Becoming an IFA?

dunstonh

I think the best course of action is to see how the financial advice sector will be affected by the increased requirements placed upon IFA's and go from there. If alot of IFAs switch to paraplanners it may make things alot harder for me to get my break.

So far, I have 4 IFAs joining my firm but dropping to mortgage & insurance and paraplanning. All of whom are good honest people but just old school. It will be mostly old school that make the change. Those that remain IFA will do very nicely.

One area that may be useful for those starting out is the IFAs left are likely to have more admin and servicing requirements and recruitment that includes that as well as moving on to giving advice as well as a trainee adviser learning on the job could actually increase.