It is interesting that we won two medals in the world gymnastics this week. Perhaps following my comments advisers should be entering such competition!
Whatever hoops the FCA, or its predecessor, have asked us to jump through, we simply oblige. We are a weak, fragmented industry that has been beaten into submission at every turn. We will not win anything with the regulator, as it neither understands the true worth of an adviser, nor does it understand fully the long-term relationships we build with clients.
The FCA views and assesses the independent sector as it views and assesses the banks – fairly low down the scale of things, somewhere near double-glazing salesmen. The regulator has no concept of the true worth of a good adviser over a lifetime to a client.
Bob Donaldson
Director
AG Financial Planning
Bridgend
