Independent financial advisers (IFAs) are looking ahead with confidence and a strong focus on growth, according to research from ValidPath.
Building on the findings of its inaugural pulse survey in February, ValidPath’s latest research found that 70% of IFAs were positive about their business outlook over the next 12 months, an increase of 4% since the start of the year.
Notably, over half said they are targeting revenue growth of 30% or more, with 41% aiming for a 50% or more increase.
When asked about their growth priorities, 84% of IFAs highlighted attracting new clients, while 65% highlighted increasing assets under management (AUM).
To achieve these goals, IFAs said they focusing on strengthening social media presence and marketing activity, leveraging introducer relationships, expanding their teams through the recruitment of additional advisers and support staff, and exploring client-book acquisitions.
Many also noted that access to dedicated business development support is viewed as an important factor in helping firms deliver on their growth ambitions.
The research also revealed that IFAs are looking to the future.
Across the ValidPath network, firms have been embedding strategies that not only drive near term growth but also build long term value.
Many were sharpening their focus on attracting younger, higher-net-worth clients to future proof their businesses.
At the same time, firms were reassessing client profitability and the cost of servicing, adapting their service models accordingly.
They were also embracing remote servicing where appropriate, reducing reliance on face-to-face meetings and creating capacity to service more clients, more effectively—all while strengthening long term business value.
Laura Handy, ValidPath succession development manager, said: “It is great to see IFAs so focused on growth and confident about the future.
“Being part of a modern network like ValidPath gives IFAs the tools and support they need to achieve their ambitions.
“With access to on demand services, market-leading technology, succession planning, client acquisition, and ongoing consultancy, together with the ability to share best practice with peers, IFAs can concentrate on servicing clients while building businesses positioned for long-term success.”
