Carl Lamb: Most advisers will be restricted in five years

But firms will not operate much differently than they do today

clock • 2 min read

Following Almary Green's recent sale to Standard Life and the change in its status to 'restricted', managing director Carl Lamb says he expects the majority of the industry will soon follow suit.

Earlier this month independent advice firm Almary Green sold to Standard Life's financial planning arm 1825. The business is waiting for regulatory approval to begin operating as a restricted practice.  Lamb said he thinks within three to five years the majority of the industry will have done the same.  He attributed the sale to the burden of regulatory costs including the Financial Services Compensation Scheme (FSCS) levy. He said the problem with the levy, which varies according to the scale of the misselling scandals for which it compensates, is that "advisers have no control ov...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA warns on loan notes and mini-bond investment risks

FCA warns on loan notes and mini-bond investment risks

Urges consumers to be wary of high-risk investments

Jenna Brown
clock 20 August 2026 • 2 min read
SVS Securities CEO banned and fined

SVS Securities CEO banned and fined

Demetrios Hadjigeorgiou barred from working in senior management positions

Jenna Brown
clock 20 August 2026 • 2 min read
Suitability rules overhaul: Why firms should engage now, not later

Suitability rules overhaul: Why firms should engage now, not later

'The bigger shift is philosophical, not just structural'

Marjolaine Quirke
clock 19 August 2026 • 3 min read