The financial advice industry is undergoing a “profound transformation”, with firms becoming increasingly specialised and shifting towards a more client-centric approach, according to The Lang Cat CEO and co-founder Mark Polson.
In an exclusive interview with Professional Adviser, Polson said regulation has "long been a thorn" in the side of financial advisers. Complaints about its complexity and burden are nothing new, yet the supply of advisers has remained relatively stable, he noted. "What has changed, however, is the way firms are structured. As regulatory requirements grow more demanding, advice firms are adapting by becoming more specialised rather than trying to be all things to all clients," he said. Polson noted that advisers today must wear many hats, often acting as portfolio managers, tax planners, ...
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