The wealth industry of the future will be hobbled by an ever-increasing regulatory burden, serial entrepreneur James Hambro told PAM Insight’s MFO breakfast this month.

"Regulation, fee reduction and technology are making our industry more difficult,” the chairman of James Hambro & Partners said.

“The easy days, in the short term, are over. There’s no doubt about that.”

This is leading to a wave of consolidation, as the minimum size of a viable business continues to increase.

Paradoxically, the regulator is in danger of working at cross-purposes with itself, as one of its stated aims is...