Letter: Advice gap comes as no surprise

David Barnett

I do not understand why anyone is surprised about the ever increasing advice gap. Past and present, regulators have done nothing to improve financial services by regulating more effectively. What they have done is to be consumed by a predilection with our remuneration and taken their eyes off the real problem, which has always been the greed of the banks and the regulators’ unwillingness to do something effective about them.

No wonder there are far fewer advisers who are willing to look after less profitable people, as the regulations are so punitive for even the most simple piece of advice. Of course, this does not take into account the rising costs, ever increasing pressure and interference by the FCA on our charges and, lastly, a lifelong liability over which we have no control.

David Barnett

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