Porteous expects adviser consolidation to speed up


The pace of consolidation in the advice industry will speed up, according to John Porteous, group head of distribution at Charles Stanley.

He said he thought Brexit had kept a few plans on hold and added that "on the premise that we get through Brexit to some form of certainty, whatever certainty looks like, I would expect to see more consolidation and more rapid consolidation".

Mr Porteous also weighed up the pros and cons of moving to a vertically integrated structure.

He told FTAdviser: "I am actually a fan of vertical integration. I can see how it can be used powerfully, I can see how it delivers consistent outcomes.

"But I recognise it's not for everybody and I don't believe that it is the only business model that works."

Finally, Mr Porteous revealed his plans in his new role at Charles Stanley.

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