Interim results from our latest poll indicate the cost of delivering advice is the biggest challenge faced by advisers, with the economy coming second.
Our poll follows commentary by business coach Tony Vidler who suggested regulatory change and the higher expectations of better informed consumers are potential hurdles for those operating on the front line of advice.
When asked what the biggest challenges are to their business, 37% of those taking part in our poll – which will remain open until Tuesday 19 November – indicated the cost of delivering advice.
Just over a quarter (26%) believe the economy is the biggest problem, and this is followed by regulatory change (15%), evolving client expectations (15%), and an unspecified ‘something else’ (7%).
With a week still to run, anyone who hasn’t already cast a vote is free to do so.
What do you consider to be the biggest challenge to the ongoing success of your business?
- The cost of delivering advice (39%)
- The economy (26%)
- Regulatory change (13%)
- Evolving client expectations and scrutiny (13%)
- Something else (write and let us know) (10%)
Loading ...See Change of the New Normal for Financial Advice Businesses.