Adviser’s annual bills from the regulator arrived this month and have left most of us open-mouthed. Mine’s up by 85%, others by more, and pretty much all is our contribution to the Financial Services Compensation Scheme. Payouts to those who’ve lost money when dodgy advice firms go bust are funded by those who’ve haven’t given dodgy advice nor gone bust. Many would say that if the regulator were regulating properly, there would be nothing for which they’d need to compensate. And I’ve said many times that, were it illegal for regulated advisers to put clients into dodgy, unregulated investments, a big part of the problem would be solved. Anyway. See that brick wall over there…
“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.
