Eppinger downplays impact of IFA consolidation

However, Eppinger says the impact on the industry will not be as large as expected. A number of analysts have predicted a decline in the number of IFAs as firms merge or join bank multi-ties as a result of a move towards principles-based regulation and falling commissions. A report for the FSA of financial intermediary firms by KPMG last May quoted one nameless IFA who declared: “Principle-based regulation may be the death of the smaller IFA who does not want to carry the risk nor can afford to insure against it.” But Eppinger describes the adviser industry in the UK as “solid” and says ...