I’ve said for ages that we shouldn’t be able to recommend unregulated investments. The problem here is what’s actually in regulated investments. Woodford took what turned out to be too much risk by investing in shares which, when push came to very big shove, couldn’t be sold. Could have gone the other way, and he’d have been a hero. He was actually trying to make money for, rather than rip off, his investors. Should we go caveat emptor or nanny regulator? Latter, of course, had money with him.
“Letter of authority: Why now is the right time for change”
This may sound like a non-issue from outside the world-of-financial-advice bubble. It is the bain, however, of the daily working lives of many of us, particularly of those paid by we advisers to do the dirty work of dealing with the many providers with whom we have to work.