The regulator sent a survey to financial advisers asking about our ‘financial resilience’ through the Covid crisis. Did those who told the FCA they were having, or thought they might have problems expect a helping hand or shoulder to cry on? In the wonderful world of financial services, and to quote Micheal Douglas’s Gordon Gekko in ‘Wall Street’ (sadly now a ‘kids etc’.), ‘If you want a friend, get a dog’.
“Advisers fearful of further compliance and regulation”
We know, of course we know, that regulation is, or at least should be a ‘good thing’. If those who need or should seek advice can be confident that they’ll be told the right thing, that someone has looked at those ’too good to be true’ investments before they’re allowed to take your money; or, in the case of a Woodford, while they’re raking it in to make sure it’s going where it’s supposed to.
