We’ve always been a small firm, even when we thought we were big, as the official classification is ‘ten advisers or less’. There is a, perhaps justifiable perception that our regulator would prefer to regulate far fewer big firms, rather than the many thousands of smaller adviser companies which are still in the vast majority, with over 88% of the 4,600 odd directly-authorised financial advisers comprising less than 5 advisers. ‘Consolidation’ is still a buzzword in our business, with big, often private equity-backed firms buying up the smaller fry to form the type of company that the FCA is said to prefer. They say that’s not the case, which is great because the way things are and have long-been is based on what our clients actually want, a personal, local service. The way healthcare once was and, who knows, maybe will be again. Wouldn’t you prefer to see a doctor you know, rather than sit in a big hospital waiting room for hours?
“Pensions minister: ‘we have created saving pots, but not a pension system’”
The OBR (Office of Budget Responsibility, as opposed to the OBI, often said to be housed in No.11) said this week that pensions were one of the biggest problems to be faced by this and future governments.
