A Financial Planner has attacked "excessive red tape" and regulation in the advice sector, saying it poses a threat.
Huw Jones CFPCM, director at Proposito Financial Planning, believes there is too much paperwork and is unhappy about the effect on business.
In an interview with Financial Planner magazine, the David Norton Award runner up for 2014 said: "The cost of regulation and red tape is undoubtedly high. When I work with a client they receive vast swathes of paperwork, the majority of which won't ever be read.
"Of course people have to be protected, but it is excessive. A solicitor doesn't include details of the case law that has resulted in the wording of legal documents.
"This is a real threat because it prevents people engaging in what's really important – their financial future."
Mr Jones, who featured in the My Business section for the latest issue of the magazine, also signalled a warning on automated advice.
So called robot-advisers have become one of the hot topics of 2014.
FCA chief executive Martin Wheatley expressed his desire to explore in greater depth what potential artificial intelligence may have to help solve the 'advice gap'. The regulator will examine the subject in a report.
Mr Jones said: "There's a lot of talk about robo-advisers, or online Financial Planning tools. I think they are useful for a certain market and have a place because they are affordable and it's better people do something than nothing, but perhaps they need to be approached with caution."
He believes the future for Financial Planning is bright and the need for it is even greater due to the pension reforms.

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He said: "I think there will be a massive increase in the need for proper Financial Planning.
"People will have the power to take as much money out of their pension as they want, but this brings the risk that, without Financial Planning, they won't appreciate the potential impact on their retirement income.
"Whether people then seek advice is another matter. Educating people that they should get Financial Planning advice is something that, as a profession, we must strive for."
He wants to see better financial education, both at school and throughout people's lives.
He said: "People leave school with little knowledge of finances, and most knowledge they have is forged by their parents. The financial services industry has excelled at making products complicated when they needn't to be.
"Education is important to me and it's something we strive to do for our clients, both at our first meetings and at each subsequent review."
The full interview with Mr Jones can be seen in the latest issue of Financial Planner magazine.
If you would like to be considered to be featured in the My Business section for 2015 issues of the magazine please email This email address is being protected from spambots. You need JavaScript enabled to view it. or call 01895 676658.

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