It’s hard to believe, but Consumer Duty has now hit its second birthday. And like any two-year-old, it’s keeping advisers firmly on their toes. In this issue, we’ve pulled together a mix of voices, stories and insights to help you make sense of what’s happening in the world of advice and maybe spark a few new ideas along the way.
We kick things off with a Brooks Macdonald piece on page 5, making the case for multi-asset funds for first-time investors against the backdrop of targeted support and simplified advice. A real highlight of our September edition!
Regulation with a twist
On page 14, Dynamic Planner’s Chris Jones takes a close look at the Consumer Duty Price and Value outcome and how it’s nudging firms to rethink service models. A few pages later, on page 14, Stuart O’Sullivan from Protiviti asks whether Consumer Duty is about to enter the “terrible twos” and what that means for advisers navigating the next stage.,
And because the FCA never likes to keep us too comfortable, on page 17, Richard Wake from Intelliflo explains how to handle the regulator’s latest sweeping data request. If that doesn’t make you reach for the coffee, head back to page 10, where former FCA heavyweight Ritchie Thomson from Isio shares his reflections on nearly 20 years at the regulator and what firms should really be preparing for next.
We’ve also added a must-read to round out the regulatory picture. On page 20, JB Beckett rewinds the clock from Lehman to Brexit in Time to regulate? A punchy reminder of how memories fade and cycles repeat.
People, tech and first meetings
But it’s not all regulation. On page 26, Stuart Coombe at Old Mill tells his brilliant story of how he went from paraplanner to partner. It’s a reminder that careers in this profession can take you further than you ever imagined.
Over on page 34, Pilot Financial Systems’ Nick Ryan and David Mills vent their frustrations with clunky tech and explain how they’re tackling it head-on. And if you’ve ever walked away from a first client meeting wondering if you said the right thing, Melissa Kidd’s piece on page 29 will be right up your street.
Wills, wealth and shake-ups
Estate planning has had a big summer, too. On page 42, Charles Russell Speechlys’ Tamasin Perkins explores the Law Commission’s proposals to modernise wills law, from electronic wills to the end of automatic revocation on marriage. Then on page 36, Chris Fairhurst digs into two landmark divorce cases and what they mean for pre-marital wealth and generational transfers.
Mortgages under the spotlight
If mortgages are your thing, there’s plenty in our Mortgage & Property section. On page 49, Dawid Kotur from Curvestone explains why AI is set to transform compliance teams, not replace them. On page 50, we cover the latest inflation surge and its impact on borrowers and brokers, and on page 46, we’ve got the Moneyfacts update showing product choice dipping as lenders tread cautiously.
And don’t forget the podcasts
Finally, if you haven’t tuned into our IFA Talk podcasts lately, you can find our usual round-up on page 24. From succession planning to AI in the workplace, it’s been a packed month, and there’s plenty more to come in September.
So, grab a coffee, dive in, and enjoy this issue. As always, we’d love to hear what you think.
Sue Whitbread
Editor, IFA Magazine
