Around a third of advisers want regulatory updates and continuing professional development support to help reduce risk in their business, according to research from Aviva.
Aviva carried out research with 400 advisers. It found that 35 per cent of those polled cite regulatory help such as keeping up with new regulation and CPD as an area in which they value support in order to reduce risk in their business.
Thirteen per cent say providing staff with ongoing training represents one of the biggest challenges to their business, while 8 per cent believe their business finds it hard to recruit and train the right staff.
Thameside Wealth director Tom Kean says keeping up with regulation can be a challenge, particularly where a firm has chosen to run their compliance in-house.
Kean says: “There is so much information out there. It is not a lack of information that is the problem but it is having the time and the resources to decipher the information that is difficult.”