Speaking at Money Marketing Live last week, Tebbutt said advisers can profit from the opportunities which will be presented by depolarisation as long as they avoid the inevitable confusion that will hit some parts of the market. Tebbutt said he was shocked by the FSA’s decision to allow a whole of market option for multi-ties. He claims that it will be impossible to manage and hard for clients to understand. He said advisers who have not clearly articulated their regulatory position could face the prospect of misselling claims against them and being forced out of business in two to three years. In contrast, Bankhall commercial development director Shaun Godfrey does not believe misselling will be an issue but agrees there will be confusion. He considers firms are not getting to grips with risk management which could lead to industry implosion because of the knock-on effect of not being able to get professional indemnity cover. Godfrey said: “I do not see the potential for misselling but there will be confusion. Organisations giving advice need to get to grips with risk management to stop the industry imploding.” Origen chief executive Gareth Marr said depolarisation was bound to cause problems as many IFAs do not have any experience in offering fees. Barclays Financial Planning commercial director Stephen Ingledew agreed with Tebbutt about the potential for increased profits, saying depolarisation will whittle the independent market down to 13,000 RIs, meaning adviser value will go up.