Yes, it’s seven years since Panacea Adviser, the online community and resource for directly regulated financial advisers and paraplannners, started working for an advisor community that was really feeling the pressure a little bit. Because 2007 was, you may recall, a bit of a rough patch, and the regulator was floundering just a little bit.
Since then, of course, we’ve had a few more changes to work through. And the importance of defending the adviser, though collaboration, consultation and (not least) collegiality has been critical. It’s a good question how many struggling IFAs would have quietly accepted defeat if it hadn’t been for the redoubtable Derek Bradley and his faithful crew. Derek, we salute you.
Since 2007, Panacea has grown its community from 100 advisers, supported by just eight providers, to an active community of approximately 17,000 today, supported by 40 providers who offer a whole range of tools and research. In the last quarter of 2013 alone, Panacea provided support to 9,644 firms, who in turn produced over £1.663 billion in premium income. A total of £7.248 billion was produced throughout the year.
“The whole team at Panacea is immensely pleased with what we have achieved, “ said ceo Derek Bradley today, “and we look forward to the future and to remain as the destination for advisers, paraplanners, providers and support services alike to engage in discussions and exchange views on concerns affecting their businesses.”
Too right. Our sincere congratulations.
Michael Wilson, Editor, IFA Magazine
The Highlights So Far:
2007 – Launched PanaceaIFA
2010 – Moved into social media, launching Twitter and LinkedIn groups
2011 – Held first of many successful free regulatory Q&A events
2012 – Rebranded to Panacea Adviser
2012 – Visited the Ministry of Justice, campaigning against PPI firms
2013 – Launched dedicated paraplanner microsite
2014 – Launched auto-enrolment microsite