The 10 people who will decide advisers' future

The eagerly awaited announcement of who is on the “Code Committee” has landed. The announcement of the 10 names this week is bound to generate some debate and I suspect quite a few grumblings. The future of the financial advisory industry rests in their hands to some degree. They are the 10 who will write the rules around regulation. I know most of the people and have nothing personally against any of them, but I do have to scratch my head over the make up of the committee. The main point, as has been made in some comments to this story, is that there appears to be no one with any experience on the life insurance side of the industry. Likewise the mortgage broking community seems to have been ignored too. A second point which has been raised is that the committee has a strong feeling of lawyers and managers rather than practitioners. Is this committee really representative of the advisory industry? I’ve heard many of these people speak before and also discussed issues with some of them individually. Unfortunately in some cases there is a lack of understanding of the advisory world and even some hostility towards it. I understand many, many people put their names forward, and some of those turned down were, in my view, excellent candidates. There is no point pre-judging what the committee comes up with, but I, like many others, hope that they are workable and sensible rules which ensure we have a robust, professional advisory industry. What do you think of the make-up? Let us know by commenting below.