Speaking as a sole trader – yes, business has been tough and is not made any better when those in the industry ask us to “soul search”.
The past few years we have had to train ourselves in order to pass exams – exams that banks appear to think their staff are exempted from. We have had to bear the brunt of over-regulation, as a result of the mess created, again, by banks.
But where I get upset is the fact that I have been offering high-quality advice to my clients for over 10 years and, except for the exam side, have not had to alter anything within my proposition as it was RDR-ready back in 2004.
Those that need to soul search are those that decided it was all a joke and was going to go away – like some networks and again the banks. Those that need to soul search are those that treated clients so appallingly that those in power thought RDR was necessary. Those that need to soul search are those companies that only a few years ago viewed the IFA as an irrelevance in the marketplace yet now appear to think we are the greatest thing since sliced bread.
Long live the sole trader.
Adrian Gill
Independent Financial Adviser
Adrian Gill Wealth Management
Leeds
West Yorkshire
