The rest of the industry will have to play catch-up with IFAs when the new regulatory regime comes into effect, says FSA head of industry training David Jackman.
The FSA is looking to IFAs to take a leadership role as other areas of the industry will be subject to the same level of scru tiny as now under the PIA.
Jackman says the aim is to create a more professional approach than currently exists in areas like stockbroking and investment management, where players need to raise standards.
He says: “Other areas of the industry will be subject to the same level of regulation as IFAs are now. This will move the industry towards a more professional approach. We will be looking for IFAs to set a leadership role.”