Compliance still number one worry for advisers - Model Office research

Half spend 10 hours a week on compliance

Sophie King
clock • 2 min read

Compliance issues are still an ongoing concern for financial advisers, with 80% saying it is their number one worry, research conducted by Model Office has found.

In its Retail Investment Adviser Benchmark Report 2021, which surveyed 185 of its own users, Model Office considered trends and challenges advice firms are facing.  Half (52%) of firms said they spent between nine and 11 hours each week working on compliance-related issues, while a quarter (25%) spend six to eight hours and 13% spend 11 to 15 hours.  The research showed advisers were also spending two thirds (65%) of their time on business, compliance and staff development needs, but only 35% on client meetings. Source: Model Office Worries over cyber resilience were also high fo...

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