Advisers should regulate themselves: Stubbs
Stubbs said, in a key note adddress of the Institute of Financial Advisers conference yesterday, that it would be far better if there was one industry association and that advisers regulated themselves.
He said other professions self-regulate themselves and financial advisers should try and do the same.
Stubbs said there shoud be one association and it should be compulsory that advisers join it. His view is that "your peers would be a lot tougher on you than a third party."
He also says that such a move would be paramount in helping build consumer trust as it would show the public that advisers are serious about their profession and standards and are wiling to throw out members who don't comply.
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