Hector Sants exits the FSA having fostered an environment of collaboration and consultancy within financial services, the Institute of Financial Planning (IFP) says.
Heated consultations between the regulator and the industry may not have pleased everyone, but this should not detract from the improvements made to the process, IFP chief executive Nick Cann says.
"Hector Sants' legacy is he fostered a good collaborative consultancy between the regulator and the industry", Cann says.
"Discussions may not have ended the way certain parts of the adviser community would have liked but greater collaboration is an important part of the process.
"I hope whoever takes over from Hector has the same conviction."
Strong leadership qualities coupled with a mindset of proper engagement with the financial services industry is what is needed in an incoming CEO, Cann says.
"To come in and not consult properly would be a disservice to Sants", he says.
Cann expects Sants' departure will have little impact on the day-to-day business of advisers.
He says: "The CEO steers the culture of an organisation - RDR and consultations will continue as business as usual. This [Sants' exit] will matter very little really."
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