There are not enough advisers to handle the people who need advice, but this message has been ignored by many politicans, the founder of PanaceaAdviser.com has warned.
In a video interview for FTAdviser, Derek Bradley, founder and chief executive of PanaceaAdviser.com, said advisers have been struggling to be heard by politicians.
“The adviser capacity that exists in the UK at the moment is only sufficient to handle something like 10 per cent of the population,” Mr Bradley explained.
He said advisers should respond to the FCA and HM Treasury’s Financial Advice Market Review, which they launched jointly August, as there were many issues that would “unite” advisers.
Mr Bradley said: “Getting a voice out there is one thing, but finding the receptive audience to direct that audience at is something else. I think, historically, politicians and regulators have not necessarily looked as closely and as sensibly as they should at the work financial advisers do.”