Job titles were a feature of the brilliant ‘W1A’, a toe-curlingly close, according to insiders, satire on the workings of the BBC. The included ‘Head of Values, Director of Better and Director of Purpose. That the FCA has a ‘Director of Transformation’ does make it sound rather more like the Ministry of Magic than a regulator determined to root out financial malpractice and keep the banks in check. That it needs transforming is both worrying and, based on my almost weekly calls to them about one thing or another, accurate. Unlike the NHS and others, however, its shortcomings most certainly cannot be blamed on underfunding.
“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.