Network adviser apathy concerns Ingram

Former Threesixty director David Ingram has expressed concerns about the apathy of network financial advisers as he seeks to gauge views on the future of the industry.

The vice president of the Personal Finance Society now runs Aim Two Three, a support service for providers, and is currently in the middle of an extensive survey of advisers.
At the heart of the survey is the question of whether firms will be independent or restricted post-retail distribution review (RDR) implementation.

However, with almost 500 responses already received, Ingram said only around 5% had come from advisers who are members of a network, a figure that is a “big surprise” to him.

He said: “I’m concerned because they probably think the network is going to make all the decisions for them.

“If they want things to be different, now is the time to say. A business model that works best for a network post-RDR will not necessarily be the best one for the advisers.

“The expectation is most networks will go into the restricted space.”

Ingram’s survey will run until 31 October and is open to all financial advisers.