Independent Financial Advisers (Regulation) Debate
Full Debate: Read Full DebateAdrian Sanders
Main Page: Adrian Sanders (Liberal Democrat - Torbay)Department Debates - View all Adrian Sanders's debates with the HM Treasury
(13 years, 8 months ago)
Commons ChamberThe hon. Gentleman is absolutely right. The overriding message coming back from the IFA community is of being ignored by the regulator. It has been suggested that Adair Turner, as someone who comes from McKinsey, looks at the issue from a box-ticking perspective as opposed to considering the fundamental needs of the consumer, which is the important issue.
IFAs are going to bear the brunt of the changes, and especially those with small operations in rural communities.
Is not the problem with the whole process the fact that it is angled disproportionately at hurting small traders, often in the poorer areas of the country? That needs to be reversed if the changes are to receive any credibility in or support from this place.