He said: "When we asked advisers if they could unlock capacity to serve more clients, they said that if everything worked as it should, and they were not held up by integration issues or providers needing paper-based letters of authority, etc, etc, then they could unlock about 50 per cent more capacity."
Widening advice gap
Last week, FT Adviser covered the launch of the Lang Cat's latest report, which found the advice gap in the UK has been widening.
As reported, just 9 per cent of the population having benefited from paid financial advice, a report has found, down from 11 per cent the year before.
Some 80 per cent of advisers surveyed said they believed the regulation has actually made it harder for them to service clients.
This has particularly impacted those with low investable assets, with 55 per cent of advisers having stopped serving them as a result.
One adviser quoted in the report in relation to this, said: “The time cost of advice regulation is far too high for us to be able to consider taking on non-commercial/ low-value clients and every new set of rules issued by the FCA tends to increase the advice gap.”
simoney.kyriakou@ft.com
What's your view?
Have your say in the comments section below or email us: ftadviser.newsdesk@ft.com
