Continuum anticipates rapid growth in the new year if the sector 'gets behind consumer duty'.
Speaking to FT Adviser Martin Brown, managing partner at Continuum, said the new regulations had the potential to improve the reputation of the industry.
This is because the consumer duty could redefine the financial advice sector by driving clients to trusted advice firms.
“There is the potential for exponential growth in the financial advice sector if the whole industry really gets behind consumer duty,” he said.
“Not only could it drive more people to take advice by improving the reputation of the sector, it could also help close the advice gap."
He added: “The demand and need for high quality financial advice continues to increase every day as more new people seek advice for the first time.
“The need for a clear consistent offering from their adviser has never been greater.”
It comes as the firm prepares to launch a new adviser academy, in partnership with M&G, as part of its plans for growth in the new year.
Brown went on to say Continuum will strive to be better at what it does, adding: “In the past we have seen many examples of great businesses that have fallen into trouble due to apathy."
Savings a concern
Brown said savings rates would be a key concern for customers in the coming year.
It comes as savings rates started to drop after the Bank of England held the base rate at 5.25 per cent for the third month this December.
He said: “One area advisers do need to look out for in the more immediate future is the effect of stalling savings rates on the upcoming Isa season.
“Savvy savers are already looking to lock into fixed rate savings accounts, with £4.6bn put into savings accounts in October.
“Advisers need to make sure they are proactive with their clients and explain the potential risks to their savings in a cash Isa, when indications are that interest rates may start to fall next year.”
As for his business, Brown said Continuum was working to establish itself as a "household brand" following its purchase by M&G.
A year after its acquisition by M&G in August 2022, Continuum launched a succession scheme for advisers considering the next steps for their businesses.
Brown added: “Our new succession scheme launched in 2023 also helps us square off the circle for advisers who know that no matter where they are along their personal and professional journey, there will always be a home for life for their clients in Continuum with another adviser with the same quality knowledge and ethos ready to take over the reins when required."
sonia.rach@ft.com
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