MoneyMarketing has cited a study by the consultancy firm Plimsoll, which considers that some British independent financial advisers (IFAs) will be reviewing their independence in 2009. Some 161 IFAs are heavily in debt while there will be pressure from the retirement of directors. Around 470 of 2,900 IFA directors will be over retirement age during 2009.
Some 834 companies are operating without debt and many have cash surpluses. One strategy will be for the strong IFAs to take over the weak ones.
www.searchifa.co.uk
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