An adviser whose firm went into liquidation and has prompted £11m of payouts from the Financial Services Compensation Scheme is now running a claims management company as FTAdviser reports.
The story has unsurprisingly upset many IFAs. It will be very interesting to test how the regulated CMC rules apply to cases of this nature. They are rather light touch of course.
Libertatem’s Garry Heath details how he has been trying to get to grips with regulator, ombudsman and PI insurers to get some clarity around the increased FOS limit. He is not optimistic.
Citywire has a very evocative headline on the same issue - “Being treated like a bad guy is horrible’ as IFAs share their recent PI experiences.
OBSR’s Jason Broomer, head of investment at Square Mile Investment Consulting & Research warns advisers that survivor bias is still prevalent among UK managers.
Cofunds tops the table for investment-related complaints, the FCA says.
Adviser Home’s very own Brendan Llewellyn suggests that advisers are doing better than providers when it comes to the treatment of existing customers versus new customers.
Neil Woodford believes that the current valuations of UK shares means they present the greatest opportunity for 30 years. Advisers may take some convincing.
The big four audit firms have been told to split their auditing and consultancy work by the Competition and Markets Authority. It does prompts thoughts about whether the vertical advisers will ever face a similar challenge.