Personal Finance Society (PFS) CEO Keith Richards has praised advisers for showing strength and resilience in the wake of the Retail Distribution Review (RDR), after Financial Conduct Authority (FCA) figures suggested intermediaries are re-entering the market.
Richards (pictured) said the figures published today by the regulator, which showed there were 1,500 more 'financial advisers' operating in July then there were at the beginning of the year, illustrated that the profession is in more robust health than anticipated. The figures echoed the PFS' own statistics, which showed that more than 2,000 first-time Statements of Professional Standing (SPS) had been issued by the Chartered Insurance Institute (CII) since the RDR deadline on 31 December last year. The overall number of SPSs issued by the CII Group stood at more than 21,500 at the be...
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