Gosling's Grouse: For better for worth

'In danger of shooting itself in the foot'

When the regulator says it wants to look at competition in a part of the industry, it really means it wants to look at price - and, effectively, it wants that price to go in one direction: down.

The latest segment of the industry that seems like it is going to face some form of 'competition review' is the provision of financial advice and the cost of that advice. At a recent event organised by Investment Week's sister title Professional Adviser, consultant and former FCA technical specialist Rory Percival indicated the regulator was interested in competition within the advice sector. There is an irony here that at the start of this regulatory cycle RDR reduced the number of advice firms and advisers, at least in what we all used to call the 'independent' sector. Interestin...