As more financial advisers go down the specialist path, establishing a successful financial advice business in the new regulatory landscape may require a similar approach.
That's according to Craig Parker, chief executive of TAL-backed dealer group Affinia, who said the need for specialist financial services providers was one of the main reasons behind TAL establishing a risk-based dealer group.
"From a consumer point of view, they're enjoying that. Secondly, [with] expertise on the advice side, it's very clear that we can grow the market," he said.
"As you may have seen around the market, we're seeing specialist risk advisers starting to specialise into certain streams, whether that is the medical profession or blue collar."
Parker said it was more important than ever for dealer groups to clearly articulate the value they could add to an adviser's business and to partner with like-minded professionals to build a strong client offering.
