Advisers examine growth options

Issued: 25/02/2010 00:00:00

A third of advisers are looking to grow their businesses during the pre and post retail distribution review environment, according to a survey from Tenet

Keith Richards, group distribution and development director for Tenet, said a number of firms surveyed had seen increased business opportunities caused by genuine and growing increase in demand for advice.

He said exit planning had become a hot topic for discussion amongst the adviser community, alongside a growing practice of cold canvassing letters being sent to IFAs offering to buy their business.

Mr Richards said: "Firms are now receiving cold calling letters from accountants stating that they are acting on behalf of a prospective client who is particularly interested in acquiring the practice.

"Exit planning considerations have been accelerated as a result of RDR proposals and I expect we will see an increasing number of small practice mergers as part of the solution."

Source: Joy Dunbar, FinancialAdviser, Thursday February 25th 2010