The result is a unique opportunity for advisers to expand their offerings to consumers by the creative use of remote technology and marketing.
The days when the average IFA might be limited to perhaps a maximum of 100 to 200 clients will for many disappear, as remote working enables such numbers to comfortably double and beyond.
Alongside this, there is a likelihood that advice will become generally more affordable, which in turn will help us narrow the savings and protection gap.
These are exciting developments, which will bring a great many opportunities for all financial advisers who rise to the challenge.
If you have any doubts about this new reality and its opportunities, you need look no further than the rapidly increasing number of private equity businesses and others who are investing millions into securing entry into the financial advice market.
Like me, they recognise the bright future that lies ahead for the financial services sector.
Ken Davy is deputy chairman at SimplyBiz
