PFS' Keith Richards reveals advisers' biggest problem

The cost of regulation. "The biggest issue raised by many of our adviser members is the ever increasing cost of regulation and it's direct and indirect negative impact on the industry and consumers alike," Richards (pictured) said. He draws attention to the fact that the cost of regulation has continued to rise year on year - and when coupled other rising associated costs, the burden on a reducing pool of contributors will ultimately "undermine the regulatory and compensation framework itself". "The fact that the Treasury now benefits from regulatory fines rather than being pooled ...