Abstract
Independent financial advisers play a vital role in assisting clients to meet their financial goals.
However, it appears that additional guidance is needed for these advisers to survive in their
complex business environment, governed by strict legislation. To date, only a small amount of
research has been conducted in this area and no formal research study in South Africa has
provided a course of direction for these advisers. Consequently, this study aimed to expand
the body of knowledge by investigating the potential problems posing a threat to the
businesses of independent financial advisers in their business life cycle, as well as possible
strategies that can be implemented to counter those obstacles. Based on the findings a
theoretical framework was proposed, suggesting key areas independent financial advisers
would need to focus on in their business life cycle to conquer the challenges they might
encounter and survive. The study concluded with a number of hypotheses to set the direction
for future empirical research regarding the survival and growth of independent financial
advisers in South Africa.