Our regulator’s stated aim is to reduce the number of small advice firms, to make their lives easier and leave them less to regulate. And here’s the first inkling that their tactics are working, as more and more one-man-bands decide to sell out and head for the hills. The ‘bigger is better’ theory has been tried in many places, many times. Hospitals, for instance. But can anyone who’s experienced both giant and cottage, say they prefer the huge, impersonal regional monoliths; however (supposedly) efficient and crammed with expertise they may be? I don’t think so. Give me a GP who comes to see me and knows my name, any time.
“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.
