2020 was a rocky year for practice valuations, with AMP’s landmark decision to revalue its BOLR terms having a butterfly effect through the market while thousands of advisers exited the industry. In this episode of The ifa Show, Forte Asset Solutions founder and managing director Steve Prendeville discusses how advisers have reformed their businesses in the face of the transition to annual renewals, the removal of grandfathered commissions and escalating business costs.
Steve also touches on why the transformation of the advice industry is viewed as an investment opportunity for many buyers, how COVID-19 has boosted business values and whether the adviser exodus will continue in 2021.
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