Good job I’m not a conspiracy theorist. I might otherwise be saying that our regulator would prefer to regulate fewer, bigger companies, rather than having to keep tabs on thousands of smaller firms of advisers. So pushing up the amount of dead cash we have to keep, in case we have to compensate someone, would be a way to drive many of those, either out of business, or into the arms of those bigger companies. The irony, of course, is that those who really need to compensate their clients go belly up long before they have to pay out. Anyway. Just another silly conspiracy theory, I’m sure.
“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.