There was an interesting webinar (they’re the thing now) discussion this week on the post-viral future of financial advice. The essence was that there’ll be less of us as we’ll all continue Zooming and Skyping, so won’t need to be local anymore. Other professions don’t spend their time driving around to see clients; we only do it because it’s what The Man from the Pru used to do. So instead of being firms of advisers which use technology, the survivors will be tech firms which happen to give advice. Hmm. I’d say a bit of both will always be needed. But who knows? Answers on a postcard, please…
“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.
