In the 70s and ‘80s, financial services was the Wild West. Anyone could flog pensions and savings plans, thousands did and earned lots of commission and the life insurance companies made fortunes. Now, we’re regulated down to the number and shape of full stops we can put in our incredibly detailed suitability reports. Though if you’re happy to move south or east and work somewhere sunny, there are plenty of expat opportunities to sell savings plans and earn lots of commission without all the fuss. And so it will be with the internet. We’ll regulate the heck out of it, the Wild West will move further south and east and become someone else’s problem.
“Majority of IFAs have no plans to use AI in their practices”
I remember sometime in the 90’s, attending a presentation by a successful adviser providing helpful hints to an audience of wannabes, young and old.
