I have always believed that the financial advice sector is a fantastic market in which to have an exciting and prosperous career and yet it doesn’t always necessarily get the recognition it deserves consistent with other professions. Having worked in the finance industry for over 35 years I am well versed with the tireless work undertaken by financial advisers and their support teams to ensure the best possible outcomes for clients and no less so for those in small and medium sized advisory businesses.
Yet, in recent years, the running of a financial advice business has seen a growing and disproportionate amount of time taken away from advisers (and indeed from their teams) who are increasingly consumed by regulation and endless administrative tasks, let alone the running of their business. My view is that they should, instead, be focusing as much as they can on clients, their evolving needs and the plentiful opportunities that exist to grow their businesses. For example, the increase in demand for quality financial advice has been fuelled by the significant amount of inheritance set to be passed on in the short term. Or the effect of the COVID-19 pandemic and the resulting fiscal stimulus measures employed by the Government that will impact all of us for decades. In my view “robo” advice is not yet capable of providing a full and rounded enough service to meet clients’ complex financial objectives and so there is a greater need for financial advice from real people, but as you will no doubt be aware, financial advisers are in short and diminishing supply.
It is for these reasons that it is not surprising that several owners of financial advice firms have spoken to me of their concerns for the future.
I believe that we are at a watershed moment in the evolution of the financial advice industry. The adviser marketplace is complex and shifting, placing greater pressure on advisers to navigate these challenges whilst simultaneously maintaining the standards of excellence required to deliver the best service to their clients. With almost 90% of firms employing 5 or fewer advisers (therefore lacking capacity to tackle certain operational burdens), it was clear to me and my colleagues that we could offer a solution which is ideally placed to solve the problems facing the modern financial adviser.
One Four Nine was established for this purpose; committed to deliver the owners of advice firms a seamless yet flexible succession opportunity for their clients and their loyal and experienced teams. So I am delighted to say that One Four Nine Group is open for business. Our recent launch is the culmination of years of planning and hard work from a team of exceptionally talented people who have spent their careers working within the finance industry and developing long standing relationships with financial advisers and a true understanding of the business challenges they face. I am hugely grateful for their dedication during a period which has been difficult for many and we are all eager to embark on the next phase of One Four Nine’s evolution.
We have already welcomed two new acquisitions to the One Four Nine family, kick-starting what will be an ambitious plan to grow organically and through further acquisitions.
For any adviser reading this who are wishing they could focus on what they do best – delivering exceptional service to their valued clients – my team and I are very much open to a conversation. Please do get in touch. It would be wonderful to talk to you.
You can contact us by filling out the enquiry form at the bottom of our contact page.
Matthew Bugden, Chief Executive Officer, One Four Nine Group