Behind the headlines: PFS chief executive Keith Richards

Earlier this month the Government unveiled plans for a major new review of the advice sector, promising to establish how the market can function better for consumers.

A joint project between the Treasury and the FCA, the review is expected to generate plans to better establish a broad-based financial advice market, create a clearer regulatory environment, and a set of principles to govern the operation of advice.

It will also evaluate how regulation is affecting the range of offerings available, with final proposals expected ahead of Budget 2016.

Money Marketing‘s Mark Sands talks to Personal Finance Society chief executive Keith Richards about its own efforts to lobby the Government, as well as whether the review represents a shake-up for the advice market, and how advisers should respond to the scrutiny.