[The Wrap] The year that was - and what may happen next year
Sitting at the beach recovering from a reasonably big operation I thought it was a good time to reflect on the year that was and do a bit of crystal gazing.
I’m often asked about the state of the financial advice sector. My response is that it has changed significantly since the regulatory regime fully came into force in March last year.
Many, many advisers have left for all sorts of reasons. The exit has been a bit of an exodus. But on the flip side most of this exodus has been filled by new advisers coming into the industry.
A story we wrote a couple of months ago had the net loss as a couple of hundred advisers. There are pros and cons to this - of course.
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