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 Pr...
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