Some more venture-capital-buys-advice-firm action. The firm in question, Ascot Lloyd, has been a retirement home (ie they’ve bought their businesses) for many smaller advisers in recent years, and is now a national mini-giant. They are, of course, going to ‘keep people at the heart of our success, further invest in technology to support organic growth’ and other corporate blah blah. The coming trend is a sale to a proper giant, whose priorities may well be very different. My thoughts? Keep on growing, guys, you’re actually leaving behind lots of clients who prefer small, local and personal. And that’s our niche and that of many like us.
“FCA: Good advisers have ‘nothing to fear’ from redress scheme”
A firm with whom we work did advise British Steel workers, was as a result given a thorough going-over and thankfully a clean bill of health by the regulator. Then the FCA were themselves given a thorough going-over by MPs and in the press, over their inaction while the bad advice that was given was being given.