Firms benefit from demand for independent advice

A Financial Services Group in the Midlands has said it has seen a 50 per cent increase in staff over the past five years with turnover and pre-tax profist more than doubling on the back of increased demand for independent advice.

The firm’s assets under advice or trusteeship and administration have increased dramatically and their managing director has said that the company’s expansion was due to a significant decrease in independent advisers and competitors.

He said the firm’s growth had led to them recruiting new members of staff and extending its offices in the Midlands.

He said: “People are waking up to the fact they are often locked into high fees and uncompetitive investment products from advisers who are not independent and don’t have access to the whole of the marketplace.

Here at ABFM, we too are seeing an unprecedented increase in enquiries from potential clients in the West of Scotland, and like our colleagues in the Midlands, we also are expanding our staff to cope with the increased demand.