Jason Baxter, left, and Tim May from the Association of Private Client Investment Managers and Stockbrokers. (Picture by Steve Sarre, 1131139)

CHANGES to be brought in as part of the retail distribution review could drive experienced advisers out of the industry, according to the chief executive of the Association of Private Client Investment Managers and Stockbrokers.

Tim May, who took over as head of the trade association of 184 wealth management and broking firms in September, expressed his concerns about the Financial Services Authority’s plans while in Guernsey to hold a regional update with local investment firms.

The aim of the RDR is to bring greater transparency to the UK investment market by improving consumer trust and confidence, changing the way commission is paid, highlighting the importance of advisers having qualifications and therefore the way that advisers can describe themselves.

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