Advisers are facing increased pressure from a variety of sources including rising costs, increased workloads and a heavier regulatory burden, according to data from the Embark investor confidence barometer.
The platform operator said the rising burden was taking its toll on advisers' mental health. Advisers reported their costs were being driven up by the increased workload caused by recent changes to government policy, combined with increased regulatory work linked to Consumer Duty. Some 60% of advisers surveys agreed that ad hoc changes to tax policy - such as the removal of the lifetime allowance for pension contributions announced in the last Budget - were having a large effect on their business processes. Elsewhere, the research found 63% said they would need to outsource to meet...
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