How to Ensure Your Advice Is on the Right Side of the Law

Colin Wilcox of the Financial Conduct Authority explains the regulatory body's expectations of the adviser community, the role of technology in providing client solutions and where advisers can add value

Anastasia Georgiou 30 May, 2013 | 12:59AM
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Morningstar recently interviewed Colin Wilcox of the FCA to find out more about the impact of RDR and how successful advisers have been in adapting to the changes required.

Ana Georgiou: There have been reports that 5000+ advisers have left the market this year, is this a true representation, or is it an inflated number because not all advisers have yet fully qualified? 

Colin Wilcox: We know that there are over 31,000 retail investment advisers working in the market, which tied in with our estimates. There is lots of external research into this matter from parties with specific interests. You get opinions that are so diverse, but the reality is probably somewhere in the middle of the extremes. 

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Anastasia Georgiou  is the product manager for Adviser Workstation in the UK.

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