Size helps advisers
Clive Atkins said there were mounting pressures on advisers.
He said the environment had changed a lot compared to when he first came to New Zealand seven years ago.
“There’s a lot more pressure on them now from a regulatory point of view. There’s more competition as well but I think the pressure of regulation will have an impact. What you’ll find its more will join together and become larger groups to not only ease pressure on their time but on their finances. To have economies of scale, I think you’ll find number will join together to form larger groups, based on my previous experience of the UK market which is what happened there.”
He said regulation had made the New Zealand industry a lot more complicated. “It’s definitely moving towards what it’s like in the UK.”
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