Top five challenges to affect UK advisers in 2016
23 Dec 15
Clapton Consultants, a chartered accountancy practice supporting small IFAs, gives its view of the top five challenges facing the sector in 2016.
1. Auto enrolment of small firms
The involvement of so-called ‘micro firms’ in the auto enrolment initiative next year will present a significant challenge for advisers. Although small firms are easier to auto enrol than their larger equivalents, the sheer number will test capacity in a low margin sector while employers and staff will be less than willing to pay for ongoing advice. Collaboration with accountancy firms in this area to spread the burden and reduce costs may be the optimum way to approach this challenge, but many firms are still unsure of the best way to do this.
Tags: Wealth Management
