It only takes a few rotten apples to add some very big numbers to every good adviser’s FSCS bill, so anything that will help us rid our sector of them is to be welcomed.
BBC weatherman Michael Fish famously failed to forecast the hurricane in October 1987, which overnight destroyed 15m trees and turned the town of Sevenoaks into just one oak.
The Financial Conduct Authority’s extension of the senior managers’ regime will help weed out “reckless and criminal firms”, financial adviser support firm SimplyBiz Group says.
As you prepare for a well-earned summer break, I urge you to reflect upon some detailed research by ILC-UK into the value of financial advice, which has revealed that even those consumers who are just getting by can be more than £40,000 better off if they receive advice.
One of the most notable years for me was 1963. Jennifer and I had just bought our first house for the princely sum of £1,400, which back then seemed an awful lot of money.
Brains, a willingness to learn and the desire to work as part of a team are key qualities firms are looking for as they seek to identify the next generation of financial advisers, writes Hannah Godfrey.
As regular readers of this column will know, I have campaigned for more than two decades for the regulator to radically change how the FSCS is funded.