Buzz Aldrin’s recent decision to sue his family for mismanagement of his finances has, quite rightly, reminded advisers across the pond that those appointed to make decisions on a client’s behalf need to be selected with the utmost care.
It was not many years ago when it became virtually impossible for anyone to obtain PI cover at a reasonable premium. Such was the crisis that the then regulator, the FSA, turned a blind eye to the fact that over a thousand firms were trading without PI insurance.
I am sure you will have been delighted to note that, at long last, the Financial Conduct Authority (FCA) is going to formally regulate the ambulance chasers.
SimplyBiz CEO Neil Stevens said the group was "passionate about being the antidote to consolidation" as he praised the work and quality of smaller advice firms.
There is a massive issue facing our clients, which is often referred to as a generational time bomb, that has the potential to destroy inheritances and cause misery to millions of elderly people.
In recent years, as far as financial advice is concerned, so much emphasis has been placed on getting the right qualifications that the vital importance of soft skills has been neglected.
The recent NMBA survey of members on the issue of contigency charging provoked an unprecedented level of response and some striking results.