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Yet another blow to independent advice

Yet another blow to independent advice

I refer to your front-page story (Trail sunset clause risks billions of adviser income, Financial Adviser, 6 July) regarding the abolishment of trail commissions.

This is yet another step by the regulator to end independent financial advice. Soon there will not be any financial advisers left. I note the comments of Petronella West saying we have had six years to get ready for this, but let me make two observations to Ms West.

Firstly, it has taken me over 30 years to get where I am and build a significant value to my business only to see that value disappear. Secondly, I note Ms West has/is the director of 13 different companies most of which are/have been connected with financial services. I see nine of those companies have been dissolved, not the sort of track record that suggests she knows what she is talking about.

Julian Pruggmayer

Financial Risk Management

Wolverhampton

West Midlands

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