Keeping up with legislative and regulatory changes are the top concerns facing Britain's IFAs, according to research from US-based financial services group MetLife.
Paul Shallis, chief operating officer at MetLife, which is planning to launch into the UK next year, said: “Compliance with regulatory change is a huge priority for advisers - it’s a perpetual focus to maintain the right procedures but this comes at a price – both in terms of management and IT cost. We believe providers must make a clear commitment to advisers to deliver innovative products and IT support that reduce the compliance burden.”
MetLife recently announced it is planning a January launch for its retirement plan for the UK market. The product will be available through self-invested personal pensions (Sipps), but at a later stage it will be sold through offshore and onshore bonds.
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