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

Non-financial misconduct: Is the FCA's final guidance progress or overreach?

Non-financial misconduct: Is the FCA's final guidance progress or overreach?

'The FCA's rationale is clear: workplace culture drives conduct risk'

David Hamilton
clock 26 January 2026 • 4 min read
FCA ban and £2m fine upheld against 'worst' British Steel adviser

FCA ban and £2m fine upheld against 'worst' British Steel adviser

Upper Tribunal backs regulator's findings in key BSPS misconduct case

Sahar Nazir
clock 19 January 2026 • 2 min read
Failed financial advice firms tracker

Failed financial advice firms tracker

Firms that the FSCS has confirmed as failed since the start of 2023

Professional Adviser
clock 19 January 2026 • 1 min read