There have been certain constant movements in this industry and we have all done nothing. The number of financial services professionals has reduced by tens of thousands since the Financial Services Act 1986. The amount a person can earn has been made more difficult and by 2016 there will be even fewer left working in the industry.
Against this background, there is just one further constant. Those working in the thick of it, the IFAs, will do what they do best, moan to their partners or business partners and then get back to work. When, in this industry, are we going to set aside a few minutes to write a letter to our respective MPs? We complain, but do nothing. We all know what it is like when a client says they want to “think about it” and then does nothing. If every IFA set 10 minutes aside in the first week of May to write to their MP with a copy to the prime minister and then set aside just 10 minutes in June to write direct to the prime minister, 20,000 extra letters arriving in the week would attract attention.
I suspect this letter will get a small number of replies from IFAs, while most will expect others to do the necessary. Do not respond to Financial Adviser, write to your MP.
Financial Risk Management