Garry Heath, author of the Heath Report, tells IFA Magazine that the 2016 Sunset Clause may cost more than 15,000 IFA jobs
You have to hand it to Garry Heath of Mountain Consulting, the author of The Heath Report, he knows how to get your attention. Heath, who is currently hard at work lobbying the Government and the Financial Conduct Authority about the end of trail, is claiming that if legacy trail commission is banned in 2016, as currently scheduled, then the IFA sector may lose well over 15,000 adviser jobs over the next couple of years.
And that even the best case scenario points toward the loss of 7,000 advisers – representing just over 20% of the total IFA base.
Phew. The 15,510 advisers who Heath says might go have a current capacity of three million consumers. And the total potential job losses after trail commission disappears, including ancillary tasks, could even exceed 50,000.
A Heavyweight Voice
Heath’s new report, entitled The Heath Report Two (THR2), and subtitled ‘A Report on the Consumer Detriment Caused by the Introduction and Continued Prosecution of the Retail Distribution Review’, sets out a bleak future for both IFAs and their clients. But is he overdoing the grief?
Read the full article: http://www.ifamagazine.com/interviews/sunset-clause-may-cost-more-than-15000-ifa-jobs-317441