The director of research firm Action Consulting said Martin Wheatley, chief executive of the City regulator, will come down much harder on charging systems tied to products in the drive to eliminate mis-selling.
He added that Mr Wheatley would not rest until he had achieved his vision of people valuing advice on its own terms.
Mr Moore said: “It stands to reason that if one only gets paid when one charges a percentage on assets, one is under pressure to sell products and that is when mis-selling can occur.
“By contrast those who are getting paid just to give advice are much more in keeping with the professional standards seen in accountancy and law where people just seek individuals’ wisdom. If the FCA wants to eliminate all risk of mis-selling it will uphold fees as the solution.”
He also warned that smaller advisers faced a crunch time as expenses rise and revenue falls, exacerbated by the impending ban on trail commission.
Mr Moore said: “The impact of new adviser charging, particularly when advisers are weaned off trail, will be felt in lower revenues at a time when supervisory fees and other expenses go up.”
Neil Liversidge, managing director of West Yorkshire-based West Riding Personal Financial Solutions, said: “We operate in a free market and clients have a choice. If clients don’t like my model they can go elsewhere. Only the market should force me to change my model, not ivory tower-ensconced regulators.”