Advisers have the wit, ability and lobbying power to bring about real change and to make progress. We have done it before and we can do it again.
We fail to unite and in so doing create a self-fulfilling prophesy in which we will see the continued marginalisation of the sector and the slow destruction of the industry.
Advisers have a real chance of making their views heard but only if they stop thinking like hostages and emerge from their Stockholm cells and fight. Candidly we cannot wait while advisers take the next 18 months to scratch their collective bottoms and ponder. We have work to do now.
So what is to be? Another stitch up by the powerful or advisers driving the agenda on behalf of their clients and themselves. Whatever the result, you will be stuck with it for a decade or two.
Can I offer any guarantees? Yes, if you fail to unite and sit on your hands you will lose, guaranteed.
If you unite and stop apologising for your existence; you have a good chance of making real change as there are many in the political sector who wish to help you.
Garry Heath is director general of Libertatem
Key points
The regulator’s review of financial advice comes as a direct result of the double whammy of the recent pension reforms and the low numbers of advisers due to the RDR reforms
The only people who should matter are the consumers
Advisers have a real chance of making their views heard
