Hundreds of financial advisers who left client-facing duties at the end of last year due to new regulatory rules now appear to be returning to the industry, according to the Personal Finance Society (PFS).
The organisation has issued 2,185 statements of professional standing (SPS) since January, a sign adviser numbers are replenishing, said its chief executive, Keith Richards. "We have a growing number of professionals indicating that advisers were able to better respond to both the requirements of RDR and the consumer reaction," he said. Official estimates from the Financial Conduct Authority (FCA), previously the Financial Services Authority (FSA), suggest there has been a 20% fall in the number of regulated advisers - to fewer than 20,500. But Richards said some of the drop-off wa...
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