The FCA's consolidator review was long overdue, but nowhere near enough

Several years ago, I asked a consolidator whether its advisers had a financial incentive to recommend its own products. I received a flat out denial. So imagine my shock when the paperwork I had sitting in front of me - a leaked earn-out matrix - literally said the opposite. Unfortunately, that set the tone for future revelations. That it took the FCA so long to review the impact of buyout shops on the advice market still seems a mystery given what we now know. But at least it's moving in the right direction. Sort of. The regulator said it was planning to review consolidation in th...