“PI woes force 100-adviser strong network to fold”

Nov 24, 2020 | Financial Services

Pass me my ‘been-in-this-business-a-long-time-and-seen-it-all-before-world-weary-and-cynical’ hat, please, Mrs. H. Every dozen years or so, both start-ups and big companies (usually with new CEOs) decide it’s a good idea to take on or buy loads of advisers, conquer the advice market and make big profits with supposed economies of scale. And every time the costs of controlling and insuring loads of advisers, most intent on doing their own thing, and of keeping the regulator at bay, get them in the end. And round we go again.

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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.