Ringing the changes

The emergence of broker networks, call centres and impending Financial Services Authority regulation has changed the tone of the broker market, leading some to speak of its demise. However, brokers are determined to hang on, says Nicolle Farthing.

With predictions that broker numbers will halve following Financial
Services Authority regulation, brokers could be forgiven for thinking that
they are a dying breed.


However, the traditional profile of a small independent high-street broker
still stands. Despite talk of mergers, the vast majority of brokers are
still small businesses with an income of less than £1m. Tending to have
one or two partners or directors, these businesses typically operate from
one office with a handful of staff. Most of