Just 6% of advisers believe the current regulatory environment is having a positive impact on their ability to offer advice, according to a survey of more than 500 intermediaries.
Conversely, the study, conducted by NMG on behalf of BDO earlier this year, found more than half of respondents (53%) believe regulation is having a negative impact. The Financial Services Bill - which will create three new bodies responsible for regulation following the abolition of the Financial Services Authority - and the Retail Distribution Review (RDR) are set to be introduced next year. Moreover, a high proportion of advisers expect regulation and other factors to lead to a decrease in the number of clients using IFAs in the next three-to-five years. Though 16% said they did...
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