Lighthouse CEO questions industry's long-term future

CEO Malcolm Streatfield argued that the traditional avenues for bringing new advisers into the industry have been closed off because companies that would normally have taken them on can no longer afford to.  He said: "I sense very few new advisers are joining the industry. And with attrition rates like that reported by APFA - which saw 5,000 of 26,000 advisers leaving the industry between December 2011 and January 2013 - it makes you wonder how long the industry can sustain itself."   Streatfield explained that prior to regulation, advisers cut their teeth at the providers such as Pru...