Investment - Articles - Financial advisers must look beyond mass market

 Deloitte, the business advisory firm, comments on FCA figures that show a rise in the number of financial advisers.

 Andrew Power, lead RDR partner at Deloitte, said:

 “The rise in the number of advisers most likely reflects individuals who previously worked for banks who now work for themselves or IFAs. Remember the previous survey showed a large decline in advisers, especially among banks.

 “While it might appear consumers have access to more advisers, the economics of financial advice means the remaining advisers in the market will need to focus on clients outside the mass market if they are going to have a sustainable business, or develop a viable guided advice model.”