No, no, no, what a very short memory you have, Ms Regulator. Leaving it all to the big banks and insurance companies was the big regulation idea twenty years or more ago. And what happened? Pensions and much other misselling, PII, mortgage and lending disasters of all descriptions. And it’s still as easy for bad apples to hide in a big barrel as it is for them to build their own small one. The difference, I suppose, is that big companies have big pockets from which to fork out compensation. But that’s not a great starting point, is it?
“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.