Investments and life insurance provider Axa has urged advisers to use the recession as an opportunity to make sure their business can withstand economic downturns in the future.
Speaking at the Institute of Economic Affairs and Marketforce 12th Annual Conference last week, David Thompson, managing director of sales and marketing at Axa gave a five-point plan to help investment advisers.
Those in the industry should decide exactly what service they provide in order to reduce confusion among those wishing to make investments, and renumeration, communication and self-management are also important areas, according to Mr Thompson.
He said: "Focus is required on understanding the needs of the end-consumer, profitability in the current climate, a proposition which differentiates you from your competitors, and never underestimate the power of the customer."
A recent study by financial services company Legal and General found that more advisers are recommending offshore bonds to their clients due to a growing awareness of the investments.
Axa calls on investment advisers to take notes from the recession
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Axa calls on investment advisers to take notes from the recession
Tue, 19 May 2009
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