Regulation, Consolidation and the Future of the Adviser Nation
Paul Bagley notes that while regulation and government policy can be overwhelming, the industry's efforts to attract new talent and prioritize clients demonstrate its resilience.
Regulation is typically introduced with good intentions, such as Consumer Duty, which aims to raise standards of care and ensure fair treatment for customers.
Regulation is usually introduced with the best intentions.
However, the practical application of rules can sometimes lead to challenges or unintended consequences, despite the sound purpose behind them.
Author's summary: Regulation affects the adviser nation.