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Specialisation can work for advisers

When the credit crunch took hold and the mortgage well ran dry most brokers did the only sensible thing diversified.

Jason Berry

Exploring areas such as payment protection and home insurance helped brokers top up their income. But in diversifying too much there is the danger you can spread yourself too thin.

This is something that those driving the Retail Distribution Review seem to believe.

The new regulations, which come into play in January 2013, will force advisers to consider which advice areas they specialise in, increasing qualification requirements across the board and making it almost impossible for advisers to be an expert in all areas.

But this may not be such a bad thing. By encouraging specialisation the RDR will ensure holistic advice is still achievable but a different approach is required.

Many advisers are expected to join forces with business partners where complementary skills are evident and comprehensive introducer arrangements agreed.

This should mean an income stream can still be delivered from sold products but consumers will be receiving advice from the expert most qualified in that area.



£65,924 The average cost of a deposit for a first-time buyer in 2011, a 1,000% rise on 1990 when it was £6,793, says First Direct. 363 The number of pages in the Independent Commission on Banking’s final report by Sir John Vickers published last week . 77,000 The rise in number of jobless 18 to […]

Simon Collis

News on rates has been generally good

Good news from Halifax its product transfer and further advance booking system is back. This is useful as for some existing clients it’s worthwhile to stay.


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