IFAs must 'show they are aware of issues'

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IFAs must 'show they are aware of issues'

Independent financial advisors (IFAs) must show that they are aware of their clients' concerns and that they are monitoring market activity, says an industry expert.

Philip Calvert, founder of IFA Life, believes that advisors need to talk to their customers more in order to reassure them.

He feels that, at the moment, people tend to look to the internet for all their financial advice and even if they do go and see an IFA, it will be at a public seminar.

"Until the financial world once again establishes credibility and trust, people will not necessarily contact an IFA - even though they should," he says.

He went on to suggest that a lack of communication by an IFA would make a client less inclined to invest with them again or recommend them to a friend.

Mr Calvert was commenting after research was released by AXA Winterthur Wealth Management showing that 71 per cent of IFAs believe that regular communication by clients will keep their savings safe.

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