Partner Insight: Andy Bennett, director of Hartcliff Financial Planning and Serena Van der Meulen, director at Van der Meulen Associates met in London recently to discuss the topic: 'Adviser approaches to outsourcing.'
In the final video of the series, Andy Bennett and Serena Van Der Meulen talk to Square Mile's Alex Farlow, Head of Risk Based Solutions Research about the future of outsourcing and their plans.
Bennett: "Outsourcing is going to become more prevalent [in the future], simply because it cuts back on time pressures for IFAs. There are also a lot of regulatory pressures [within the industry] and pressure having the appropriate investment solutions [at all times] for clients. Also there is the issue of risk, and whether the amount of risk aligned to the client's portfolio is appropriate."
Van der Meulen: "A lot of changes have happened to smaller players over the past couple of months like GDPR, MiFID II, all of which are important. There are also a lot more outsourcing companies out there than fewer. We struggled years ago to get information, but now the research houses are also providing the due diligence we need. So that side is much more streamlined than it used to be."