PROFITABILITY OF FINANCIAL CONSULTING COMPANIES IN POLAND BEFORE CRISIS AND TIMES OF THE FINANCIAL CRISIS

The financial crisis and its effects are visible in many segments of the financial market. This is also a relatively young market for financial advice to retail clients in managing their finances. Initially, an initiative grassroots entrepreneurs and private financial institutions took the form of entities to help consumers in selecting the most appropriate credit initially, and later investments, insurance, regular savings products. The success of the first companies invited to create the following, which were already other, more difficult operating conditions. Verifier of their market strategy, capital strength and management quality was just a financial crisis, which meant much more difficult environmental conditions and activities. As a result, you need to restructure the branch network and employment, financial innovation and expansion into new areas of counseling (SMEs). In the case of some players in the market these measures have not been successful, and the familiar (A–Z Finance, Money Expert) and less familiar (Homest Swiss Family Finance) issued numerous entities in the bankruptcy. The financial crisis had a negative impact on the effectiveness of financial advisors through the prism of their profitability. Branch out from the crisis strengthened and consolidated, but before it has a number of challenges related to issues of control, certification and standardization activities and restore confidence in the financial advisor profession, which has been undermined by the unethical actions by the financial crisis (excessive indebtedness, exposure to excessive investment risk).