Paul Fryers, managing director of Adviser Matrix, says: Our dealings with advisers put us in a position to pick up on trends in their attitudes.
“Recently we have noticed that although advisers know they are doing a good job for their clients, they are nervous about whether they could demonstrate they are meeting the FSAs Treating Customers Fairly principle if the regulator arrived unannounced at their offices.
“In many instances, this is the primary reason an adviser has contacted us about helping them research the network solutions that may be available to them.
He adds: “Furthermore, we have now seen that the FSA is increasing its enforcement activities with a number of fines levied and outright closure of some firms. Its no surprise that a number of networks are reporting increased levels of advisers wishing to join or investigate a network offering, although this can be a very time intensive undertaking.