Sesame Bankhall's MD of distribution is urging the FSA to back down on its decision not to introduce a 15-year long-stop on complaints, or face losing much needed corporate investment into the shrinking IFA sector.
Nick Kelly says large firms from both the UK and US could start eyeing up advisory firms if measures are taken to make the environment more appealing. He says it is a major issue for individual firms, the regulator and the industry to ensure there are enough new advisers to replace those leaving in the run-up to RDR, with some surveys citing exit figures as high as 40%. Kelly believes firms should be incentivised by the regulator to bring in new recruits, while barriers must be brought down to help attract fresh investment. He says: "Advice models will change over the next few yea...
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