Scotland-based IFAs with clients in the UK have no idea what issues they face post-independence because of “a lack of clarity” about regulation, an adviser has warned.
Carl Melvin, director of Bridge of Weir-based Affluent Financial Planning, said: “We do not have any clarity on the regulatory processes. Do we have a Scottish FCA and a Scottish Fos? Will Scottish IFAs be able to pay for it?”
A poll of 200 IFAs and investors by research website FE Trustnet found that 77 per cent are not currently making adjustments to their portfolio based on the possibility of Scottish independence.
Adviser view
Malcolm Steel, chartered financial planner at Edinburgh-based Mearns and Company, said: “For us, it would be business as usual with clients on both sides of the border, but we might have to do things differently from a regulatory point of view.”
