When success doesn’t equal satisfaction

The inaugural Beaton IFA Classification 2011 survey combined the adviser databases from all the country’s insurance providers to create a comprehensive snapshot of the insurance advice sector between April 1 2010 and March 31, 2011.

“We knew from the market perspective how much new business each adviser had placed across the industry, how big their lapses were and the size of the book at the beginning of the year and the end of the year,” said Beaton director of research Rebecca Sheils.

The survey then divided the advisers up into four groups, A, B, C and D, each contributing 25% of new business revenue.

“In the A segment the top advisers, 115 advisers, 3% of the total adviser population, contributed 25% of new business revenue. The B advisers, 258, 7% of the adviser population, again contributed 25%. C advisers, 514, 13% of the adviser population and the D advisers, 2928, 77% of the adviser population.”