The survey showed 98 per cent of principals are confident about the next 12 months, although the figure falls slightly to 93 per cent regarding the next three years and 90 per cent for the next five years.
The reasons for feeling confident cited by the principals included increasing demand for independent advice, failure by banks and multi-ties to impose market dominance, efficiencies from technology, regulatory pressures appearing to peak, stability in financial markets, the low likelihood of the global economy going into recession, increased demand stemming from A-Day and ever-increasing trail fees from funds under management. One IFA was more optimistic for having left a network and becoming directly regulated. Reasons cited for being pessimistic included rising staff and regulatory costs.
David Ingram, a partner at threesixty, commented: “It is pleasing to see that IFAs are so confident about their future. Despite all the difficulties that they have had to face over the years, including tougher regulations and negative publicity, the results of this survey show just how robust and resilient they really are.”
