Golder: IFAs 'collateral damage' in war against banks

Scott Sinclair
clock

Bankhall managing director David Golder yesterday told more than 600 of the support provider's member IFAs they had become "collateral damage" in regulators' war against the banks, and called on them to unite against RDR proposals he argues will "decimate" the industry.

Addressing delegates at the company's annual conference at Wembley stadium, Golder said while banks had failed to control the actions of their staff and been allowed to "pretty much follow any commercial path they choose", advisers had continued to "accrue very little in terms of consumer detriment". Yet the RDR, he added, had "somehow become focused very intensely on the activities of advisers". "We have become collateral damage in the war against the banks. We have genuinely worked on behalf of the consumer, and our services have been welcome and valued by them. "We say write to ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Willingness to pay for financial advice falls as other options open up

Willingness to pay for financial advice falls as other options open up

Perceived need for financial advice has fallen, Boring Money report finds

Isabel Baxter
clock 13 June 2025 • 2 min read
Women in Financial Advice Awards 2025: Complete your entries!

Women in Financial Advice Awards 2025: Complete your entries!

Entry period closes on 20 June

Professional Adviser
clock 12 June 2025 • 1 min read
Robo-advisers 'disrupting' self-directed client segment

Robo-advisers 'disrupting' self-directed client segment

Emotional value of advice still a ‘completely human endeavour’

Isabel Baxter
clock 12 June 2025 • 3 min read