Sections |
| Title | Starting Page | Number of Pages |
|---|
| Executive Summary | 15 | 1 |
| 1. Introduction | 17 | 1 |
| OVERVIEW | 17 | 1 |
| BACKGROUND | 18 | 1 |
| DEFINITION | 18 | 1 |
| 2. Strategic Overview | 19 | 1 |
| ECONOMIC INDICATORS | 19 | 5 |
| MARKET DYNAMICS | 23 | 2 |
| PROBLEM ADVISERS | 24 | 1 |
| GENERIC ADVICE | 24 | 2 |
| REGULATORY BODIES | 25 | 2 |
| REGULATORY DEVELOPMENTS | 26 | 8 |
| TRAINING AND QUALIFICATIONS | 33 | 5 |
| DEFAULTS | 38 | 1 |
| DISTRIBUTION | 39 | 5 |
| 2005-200 | 43 | 1 |
| COMPETITIVE STRUCTURE | 44 | 2 |
| 200 | 45 | 1 |
| THE CONSUMER | 46 | 1 |
| 3. Insurance | 47 | 1 |
| STRUCTURE OF THE UK INSURANCE MARKET | 47 | 1 |
| INVESTMENT HOLDINGS | 47 | 2 |
| DISTRIBUTION | 49 | 13 |
| THE CONSUMER | 62 | 2 |
| 4. Mortgages | 65 | 1 |
| BACKGROUND | 65 | 2 |
| THE HOUSING MARKET | 66 | 4 |
| MARKET SHARE | 69 | 1 |
| THE CONSUMER | 69 | 2 |
| 5. Investments | 71 | 1 |
| BACKGROUND | 71 | 2 |
| DISTRIBUTION | 73 | 3 |
| THE CONSUMER | 75 | 1 |
| 6. Pensions | 77 | 1 |
| BACKGROUND | 77 | 3 |
| THE SAVINGS GAP | 79 | 2 |
| PENSIONS ACTS | 81 | 1 |
| IMPLICATIONS FOR INDEPENDENT FINANCIAL ADVISERS | 81 | 2 |
| DISTRIBUTION | 82 | 5 |
| THE CONSUMER | 87 | 2 |
| 7. An International Perspective | 89 | 1 |
| EU REGULATION | 89 | 6 |
| MACROECONOMIC INFLUENCES | 94 | 2 |
| 8. PEST Analysis | 97 | 1 |
| POLITICAL FACTORS | 97 | 1 |
| ECONOMIC FACTORS | 97 | 2 |
| SOCIAL FACTORS | 98 | 2 |
| TECHNOLOGICAL FACTORS | 99 | 1 |
| 9. Consumer Dynamics | 101 | 1 |
| INTRODUCTION | 101 | 2 |
| SOURCES OF FINANCIAL ADVICE | 103 | 7 |
| FUTURE SOURCES OF FINANCIAL ADVICE | 113 | 6 |
| CONSULTING INDEPENDENT FINANCIAL ADVISERS | 122 | 6 |
| Mortgag 200 | 124 | 1 |
| respondents 200 | 128 | 1 |
| resp 2007 (CONT | 129 | 2 |
| FEES VERSUS COMMISSION | 130 | 2 |
| ATTITUDE TOWARDS FINANCIAL ADVICE AND INDEPENDENT FINANCIAL ADVISORS | 134 | 2 |
| 10. Company Profiles | 139 | 1 |
| AWD GROUP PLC | 139 | 3 |
| BARCLAYS PLC | 141 | 6 |
| HARGREAVES LANSDOWN PLC | 146 | 3 |
| THE MONEY PORTAL LTD | 149 | 2 |
| OPENWORK LTD | 151 | 2 |
| POSITIVE SOLUTIONS (FINANCIAL SERVICES) LTD | 153 | 2 |
| TENET GROUP LTD | 155 | 3 |
| 11. The Future | 159 | 1 |
| THE ECONOMY | 159 | 4 |
| THE FINANCIAL SERVICES INDUSTRY | 163 | 2 |
| FORECASTS | 165 | 1 |
| CONCLUSION | 166 | 1 |
| 12. Further Sources | 167 | 1 |
| Associations | 167 | 1 |
| Publications | 168 | 1 |
| General Sources | 168 | 1 |
| Government Sources | 168 | 2 |
| Other Sources | 169 | 2 |
| Disclosure | 182 | 1 |
Tables |
| Title | Starting Page | Number of Pages |
|---|
| UK Resident Population Estimates by Sex (000), Mid-Years 2003-2007 | 19 | 1 |
| UK Gross Domestic Product at Current and Annual Chain-Linked Prices ((L) m), 2003-2007 | 20 | 1 |
| UK Rate of Inflation (%), 2003-2007 | 21 | 1 |
| Actual Number of Unemployed Persons in the UK (million), 2003-2007 | 21 | 1 |
| UK Household Disposable Income Per Capita ((L) ), 2003-2007 | 22 | 1 |
| Financial Adviser Qualifications, 2007 | 33 | 5 |
| The Number of Firms Declared in Default (number and index 2002/2003=100), 2002/2003-2006/2007 | 38 | 1 |
| The Top 12 Independent Financial Advisers by Turnover and Size of Salesforce ((L) 000 and number), 2007 | 40 | 2 |
| Top Ten Concentrations of Employees in Financial Intermediation by Region (%), 2006 | 42 | 1 |
| Independent Financial Advisers by Number of Adviser Firms by Type, 2007 | 44 | 1 |
| Main Media Advertising Expenditure on Independent Financial Advice ((L) 000), Years Ending December 200 2007 | 46 | 1 |
| General Insurance Claims by Type of Insurance ((L) bn), 2006 | 48 | 1 |
| Total UK General Insurance Business -- UK Risks -- by Gross Written Premiums and Source of Business (% an 2003-2007 | 49 | 1 |
| Total UK General Insurance Business -- UK Risks -- by Gross Written Premiums and Source of Busines 2003-2007 | 50 | 1 |
| Total UK Personal-Lines Insurance Business -- UK Risks -- by Gross Written Premiums and Source of Busines 2003-2007 | 51 | 1 |
| Total UK Personal-Lines Insurance Business -- UK Risks -- by Gross Written Premiums and Source of 2003-2007 | 52 | 1 |
| Total UK Personal Motor Insurance Business -- UK Risks -- by Gross Written Premiums and Source of Busines 2003-2007 | 53 | 1 |
| Total UK Personal Household Insurance Business -- UK Risks -- by Gross Written Premiums and Source of Bus 2003-2007 | 54 | 1 |
| Total UK Personal Household Insurance Business -- UK Risks -- by Gross Written Premiums and Source 2003-2007 | 55 | 1 |
| Total UK Other Personal-Lines Insurance Business -- UK Risks -- by Gross Written Premiums and Source of 2003-2007 | 56 | 1 |
| Total UK Commercial-Lines Insurance Business -- UK Risks -- by Gross Written Premiums and Source of Busin 2003-2007 | 57 | 1 |
| Individual Protection -- New Regular Premiums by Distribution Channel (% and (L) m), 2003-2007 | 58 | 1 |
| Group Protection -- New Regular Premiums by Distribution Channel (% and (L) m), 2003-2007 | 59 | 1 |
| Investments and Savings -- New Single Premiums by Distribution Channel (% and (L) m), 2003-2007 | 60 | 1 |
| Protection Business -- New Single Premiums by Distribution Channel (% and (L) m), 2003-2007 | 61 | 1 |
| Offshore Business -- New Single Premiums by Distribution Channel (% and (L) m), 2005-2007 | 62 | 1 |
| Market Share of Mortgages in Gross Advances Taken by Independent Financial Advisers (%), 2003-2007 | 69 | 1 |
| Gross Retail Sales of Unit Trusts and OEICs by Distribution Channel (%), 2003-2007 | 73 | 1 |
| Gross Individual Savings Account Sales by Distribution Channel ((L) m, index 2002/2003=100 and %), 2002/2003-2 2007 | 74 | 1 |
| Individual Pensions -- New Regular Premiums by Distribution Channel (% and (L) m), 2003-2007 | 82 | 2 |
| Individual Pensions -- New Single Premiums by Distribution Channel (% and (L) m), 2003-2007 | 83 | 2 |
| Occupational Pensions -- New Regular Premiums by Distribution Channel (% and (L) m), 2003-2007 | 84 | 2 |
| Occupational Pensions -- New Single Premiums by Distribution Channel (% and (L) m), 2003-2007 | 85 | 2 |
| Retirement Income Products -- New Regular Premiums by Distribution Channel (% and (L) m), 2003-2007 | 86 | 2 |
| Summary of Results (% of respondents), 2007 | 102 | 2 |
| Those Who Have Consulted a Financial Adviser Linked to a Bank, Building Society or Insurance Company for Advic 2007 | 106 | 1 |
| Those Who Have Consulted a Financial Adviser Linked to a Bank, Building Society or Insurance Company fo 2007 | 107 | 2 |
| Those Who Have Consulted an Independent Financial Adviser, or a Friend, Colleague or Family Member for Advice 2007 | 110 | 1 |
| Those Who Have Consulted an Independent Financial Adviser, or a Friend, Colleague or Family Member for 2007 | 111 | 2 |
| Those Who Would Consult a Financial Adviser Linked to a Bank, Building Society or Insurer for Advice in the Fu 2007 | 115 | 1 |
| Those Who Would Consult a Financial Adviser Linked to a Bank, Building Society or Insurer for Advice in 2007 | 116 | 2 |
| Those Who Would Consult a Financial Adviser Linked to an Independent Financial Adviser for Advice and Those Wh 2007 | 119 | 1 |
| Those Who Would Consult a Financial Adviser Linked to an Independent Financial Adviser for Advice and T 2007 | 120 | 2 |
| Those Who Would Consult an Independent Financial Adviser About General Insurance, Life Insurance or a 2007 | 125 | 2 |
| Those Who Prefer to Pay a Fee for Financial Advice and Those Who Prefer to Pay for Financial Advice Through Co 2007 | 132 | 1 |
| Those Who Prefer to Pay a Fee for Financial Advice and Those Who Prefer to Pay for Financial Advice Thr 2007 | 133 | 2 |
| Attitudes Towards Financial Advice and Independent Financial Advisers (% of respondents), 2007 | 136 | 3 |
| Financial Results for AWD Group PLC ((L) 000, number, % and (L)), Years Ending 31st December 2004-2006 | 140 | 2 |
| Financial Results for Barclays PLC ((L) 000, number, % and (L)), Years Ending 31st December 2004-2006 | 145 | 1 |
| Financial Results for Hargreaves Lansdown PLC ((L) 000, number, % and (L)), Years Ending 30th June 2005-2007 | 148 | 1 |
| Financial Results for The Money Portal Ltd ((L) 000, number, % and (L)),Years Ending 31st December 2004-2006 | 150 | 1 |
| Financial Results for Openwork Ltd ((L) 000, number, % and (L)),Years Ending 31st December 2005 and 2006 | 152 | 1 |
| Financial Results for Positive Solutions (Financial Services) Ltd ((L) 000, number, % and (L)), Years End 2004-2006 | 154 | 1 |
| Financial Results for Tenet Group Ltd ((L) 000, number, % and (L)),Years Ending 30th September 2005-2007 | 156 | 1 |
| Forecast Actual Number of Unemployed Persons in the UK (million), 2008-2012 | 160 | 1 |
| Forecast UK Rate of Inflation (%), 2008-2012 | 161 | 1 |
| Forecast UK Resident Population by Sex (000), Mid-Years 2008-2012 | 162 | 1 |
| Forecast UK Growth in Gross Domestic Product in Real Terms (%), 2008-2012 | 162 | 1 |
| Forecast Share of Advisers Offering Financial Advice by Type (%), 2008-2012 | 165 | 1 |
Graphs |
| Title | Starting Page | Number of Pages |
|---|
| Figure 1: Forecast Share of Advisers Offering Financial Advice by Type (%), 2008-2012 | 165 | 1 |
