Carl Lamb: Most advisers will be restricted in five years

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...