The worst-case scenario for the future of UK financial advice would be for a defined benefit transfer mis-selling scandal to result in "a whole additional raft of regulation", believes Alex Barry.
The Legg Mason head of UK sales reckons there is already over-regulation and many people are struggling to deal with it.
"But I find it hard to see it playing out," he continues. "I think the environment for advice in the UK is probably as good now, in a 10-year view, as it has ever been.
"You can see this in terms of pension deregulation and how well the industry has adapted since RDR - the industry is in very rude health at the moment. The need for advice is omnipresent and is never going to go away. It is very exciting times."
Barry is the latest Adviser Champion to appear in Professional Adviser's regular series of video interviews, which has most recently featured Advicefront's Jose Supico, L&G Insurance's Craig Brown, and LEBC's Jack McVitie.
You can find out more of Barry's thoughts on different aspects of the world of financial advice - including how he made his way into financial services after starting out in political lobbying - by clicking on the video at the top of this page.
Professional Adviser's Adviser Champions series of video interviews offers insights into how figures from inside and around the world of financial advice see such issues as attracting new talent to the sector, the impact of regulation, the dangers of jargon and the challenges posed and opportunities offered by artificial intelligence.
To see the full set of Adviser Champions interviews to date, please visit here
If you would like to put your own or a colleague's name forward for consideration to take part in the series, please do email Julian Marr
Combined five decades’ experience
Bannister oversaw Standard Life acquisition
Three new non-exec members
Promoted from deputy chair role
Effective 2 March 2020