Why advisers need recurring income

Recurring income helps reduce the initial cost of advice as well as subsidising the cost of an ongoing IFA relationship

Last month, the Women's IFA Group conducted research on its members which showed that 93% of IFAs had never received negative feedback from their clients on recurring income. Furthermore, nearly 80% said they were not properly remunerated for the time they spent servicing their clients, which takes up over a quarter of their working day. Whether women are overly conscientious or just poor at putting a proper price tag on the service they provide, I suspect they are not alone. Many IFA businesses will cease to exist in their current form without recurring income and this will not serve t...