“Broken regulation has crushed adviser morale: Pimfa”

Feb 25, 2021 | Financial Services

We advisers are feeling sorry for ourselves, as we’ve had yet another bill from the regulator. This is an ‘interim levy’ from the Financial Services Compensation Scheme. Old story, the good and not-so-bad guys made to cough up to compensate those taken in by/greedy enough to believe crooks offering sky-high guaranteed returns from unregulated schemes which the regulator failed to regulate. I wrote to my MP about it last August. And again last week. No reply. Maybe David Cameron (my previous MP, who, even as PM, bothered to ask his PAs to put fingers to keyboard) wasn’t so bad after all.

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“Simon Evan-Cook: FCA must wake up to consolidation damage”

“Simon Evan-Cook: FCA must wake up to consolidation damage”

This is where I can don my ‘been around the block, seen it all before’ mantle. What’s happening in our business/industry/profession at the moment is a lot of what’s become known as consolidation, big companies, many fuelled by private equity, buying up smaller firms or taking over the clients of retiring advisers.