Carl Lamb: Can our profession survive coronavirus crisis?

Regulators must step in

The future of some advice firms is in doubt as the profession is forced to tighten its belt to cope with coronavirus, writes Smith & Pinching director Carl Lamb. Here he explores why some firms will go under, what the regulator should do and why advisers must still go above and beyond for clients

The world has changed for everyone now that we are in the grip of the coronavirus pandemic and it is difficult to think about anything else in these challenging times.  While we are all concerned for the health of our family and friends, as independent financial advisers, we have two main worries resulting from the turbulent markets we are seeing at the moment: the survival of our business and the stability our clients' financial affairs. It's apparent that a strong balance sheet may make all the difference to our own survival. Many firms - the vast majority - are using fee models bas...