The future of financial advice - readers have their say

Comments on a recent Good Returns column - Building a bigger moat around advice businesses - confirm that advisers are feeling a lot of angst about the future with readers offering their opinions on the subject.

Good Returns' Philip Macalister says in his column that the financial advice sector is going through significant changes, largely due to regulatory requirements.

He says since March many advisers have moved on but in the past "...barriers to entry were low to non-existent and pretty much anyone could hang up a shingle and call themselves a financial adviser".

Macalister suggests that instead of a low barrier to entry it will become significantly higher and the moat around advice businesses will increase in size, protecting businesses from competitors.