We must sell ourselves better to the public

Gemma Harle is managing director of TenetLime

Amongst the criticisms so often levelled at advisers, it is often forgotten how much good intermediaries do. The constant portrayal of dubious practices in the media (and the news releases of the regulator) do much to undermine the very successes and value advisers bring to their clients.

Of course the industry has previously done little to disabuse a cynical press and public of this view.  Turning this round was never going to be a quick or easy task, but with banking reputations still in the mud there has been an opportunity to illustrate the value we add and the good we can bring to clients financial well being.

A Mintel report earlier this year about the relationship consumers have with IFAs highlighted the fundamental problem. While everyone interviewed was concerned about their finances, only two fifths of adults chose to use advice. Most enlightening though was the fact that consumers who have used financial advice are far more likely to speak positively about it than those who have not.

This tells me that today's experience is generally a good one but that the perceptions of many are grounded in the experience of the unregulated past, an image we need to change in the broadcast media and national press.

As an industry we need to do more at a trade body level to get across the good we are doing. When clients’ lives are turned upside down and our advice has helped them we need to let people know this. At the moment the public hear are still exposed to more bad news than good.