Lord Hunt said those who were examining polarisation should remain aware of the consequences of disrupting the market for advice. "The focus must not move from getting advice to those who need it to a scramble for distribution. The many positive developments in the market over the past years should not be lost in a reversion to sales-based, not advice based, behaviour."
Speaking about the issues which are going to affect advisers in the next year Lord Hunt said: "There was the inevitable concern that IFAs were being tried before a hanging judge. But the practice has been rather different. We have noticed that Ron Sandler is a man who listens; that he expects his team to listen and research before they reach their conclusions; and that he is keeping an open mind."
"We have been especially pleased at the way in which Ron Sandler's colleagues have been to see IFAs and their clients so that they can judge at first hand what makes these diverse and unusual businesses tick."
However, Lord Hunt said that more effort was needed to protect advice.
"The focus of the public policy makers should shift towards devising ways by which advice can be made available. This means revisiting some of the regulations surrounding the giving of advice. It means changing some of the mood music so that advice is acknowledged as being at the heart of financial provision.”
