Business as usual? The impact of Covid-19 on advice M&A professionaladviser.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from professionaladviser.com Daily Mail and Mail on Sunday newspapers.
Ex-Skandia CEO says backing will help his company buy around 20 businesses ‘in next three-to-five years’
During the pandemic, the majority of the conversations have been about how businesses can be saved.
Setting up a new company during the covid-19 outbreak is unconventional but not uncommon.
It wants to grow its business both organically and through a series of acquisitions, and started life with 20 financial advisers and £800m ($1.1bn, €933m) in assets under management.
International Adviser spoke with Peter Mann, chairman at Radiant Financial Group, to discuss what the firm is looking to do in the advice sector.
Setting up during a pandemic
2020 was a learning curve for the sector, but this year is about ‘building the future of advice’
The financial advice industry was hit hard throughout 2020.
Businesses had to adapt to the “new normal” overnight, and quickly rejig budgets to cope with the financial strain of the pandemic.
“These are predominantly small and medium-sized firms, and approximately 30% have the potential to cause harm in failure,” the UK regulator said.
But 2021 is a new year and there is a slight light at the end of the tunnel for the world to come out of the bleak lockdowns via vaccination.
International Adviser spoke to several members of the UK financial advice industry to find out what they feel about 2021 and what they want to see.