The increasing burden of regulation on advisers and their business models is creating a risk of market failure for smaller pot sizes, delegates at PA360 heard.
Speaking at the opening session of Professional Adviser's flagship adviser conference today (26 April), Legal & General Investment Management head of multi-asset funds John Roe said regulation was "like a sea that never goes out, just continually another wave" and then they wonder why minimum asset sizes for new clients "keep going up". "Regulation is creating a risk of market failure for smaller pot sizes and for those with less money which is not the fault of advisers - it is a function of the fact that costs continue to rise," said Roe. "It is a very difficult and challenging environm...
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