Pass me my ‘been-in-this-business-a-long-time-and-seen-it-all-before-world-weary-and-cynical’ hat, please, Mrs. H. Every dozen years or so, both start-ups and big companies (usually with new CEOs) decide it’s a good idea to take on or buy loads of advisers, conquer the advice market and make big profits with supposed economies of scale. And every time the costs of controlling and insuring loads of advisers, most intent on doing their own thing, and of keeping the regulator at bay, get them in the end. And round we go again.
“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.
