The framework for an advice profession has been clearly established by the regulator and professional bodies, it is now up to advisers to make the leap, Rory Percival told delegates.
Speaking at the Professional Finance Society (PFS) Conference in Birmingham he said the shift from industry to profession was making progress but there were several areas for improvement - including a more advice-focused approach from firms. Percival said the advice profession's reputation would improve if there were fewer enforcement cases from the Financial Conduct Authority. He added when enforcement action is needed it should be focused on "bad apples" with in businesses, not down to firm-wide practices. He also told delegates there needed to be fewer skilled person reports and va...
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