He believes many will miss out on renewed enthusiasm in the markets because they have not carefully planned their marketing activities. “IFAs must be ready to hit the streets running when confidence returns, so it’s vital that advisers think beyond financial planning towards marketing planning,” he said. “Specifically, they should be looking at marketing activities which help to reassure those consumers who may still mistrust the financial services sector.”
“Consumers and investors will think very much more carefully about how they choose a financial adviser in the future, and they will use a variety of methods as part of their due diligence. Word of mouth will continue to be an important factor in how consumers choose an adviser, but they will want additional proof as to their expertise and professional credibility. The recommendation of a family member, neighbour or local publican will no longer be a dependable enough reference.”
