The FCA have said they want more big and less small firms of advisers. All the talk in our business is of ‘consolidation’, big fish buying up tiddler, retiring IFAs. For we remaining smallish firms, this provides a steady flow of new clients. Surprisingly, those used to dealing with someone they’ve come to know, offering a personal, local service aren’t always enamoured with the corporate approach. Good news for those of us who can hang on until regulatory policy once again goes full circle.
“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.
