Advisers confident on TCF but wary of costs

Kim North, director of Technology and Technical, asserted that firms which failed to meet the deadline would be under considerable pressure and therefore "fined by the FSA, forced to leave the industry, or forced to merge with TCF-compliant firms." However, the consensus among advisers was that firms which fail to prove their TCF compliance - and which do not adhere to subsequent warnings by the FSA - are likely to be ousted from the industry. Martin Bamford, director at Informed Choice, opined: "I think that advisers have had plenty of notice and guidance, so the end of the year deadli...