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Tim Sargisson: How LCF highlights the real need for financial advice

The depressingly familiar collapse of London & Capital Finance and similar episodes represent a failure of the whole financial services sector to promote itself sufficiently well to the consumer, argues Tim Sargisson The collapse of London & Capital Finance (LCF) has the potential to leave 11,500 investors out-of-pocket to the tune of £236m. The unravelling financial disaster […]

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Have you planned your retirement exit strategy?

A recent survey1 has recorded the average age of an adviser currently to be in their mid-50s and indicates that around 5%, a total of 1,650, have immediate plans to retire and another 16%, a total of 5,280 advisers, hope to retire in the next five years. Around 7% of these firms admitted to having no […]

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GDPR requirements sorted, MiFID II progressing… now, have you looked at your Senior Managers and Certification Regime responsibilities?

The Senior Managers and Certification Regime (SMCR) is part of the Financial Conduct Authority’s (FCA) drive to improve culture, governance and accountability within financial services firms. It aims to deter misconduct, by improving individual accountability and awareness of conduct issues across firms. Banks, as well as any investment firms also regulated by the Prudential Regulation […]

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Tim Sargisson: Life of PI

Plans to increase the FOS award limit may have largely been greeted with dismay but, writes Tim Sargisson, the actions of the FCA are arguably a measured response to what it sees – and necessary for consumer protection The news from the Financial Conduct Authority (FCA), confirmed in PS19/8, increasing the award limit for the Financial […]

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The unforeseen consequences of good advice in high risk areas – The PI renewal hiatus caused by DB cases

The Financial Conduct Authority (FCA) published its final rules on pension transfer advice in October 2018. The FCA’s position on contingent charging has already been clear since 2013. It stated that contingent charging is higher-risk than a time-cost charging model, due to the need to sell products to generate revenue, and it has now introduced […]

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Do you have MiFID II covered? Our Advising Partners do!

Last year saw the financial services industry having to face some of the most ambitious and challenging set of reforms for long time. Sandringham have invested time to become fully prepared by bringing in processes and systems to deal effectively with the new regulations. The second phase of the Markets in Financial Instruments Directive, better […]

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Tim Sargisson: The ‘what’, the ‘how’ … and the ‘why’

Tim Sargisson’s experience as a judge for this year’s Professional Adviser Awards has prompted him to offer a few words of advice to future entrants – stop merely thinking about the what and the how of your business First up, congratulations to Julian and the rest of the team at Professional Adviser for all the hard work […]

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Tim Sargisson: Is financial planning facing a succession crisis?

Advisers may be currently retiring faster than they are being replaced but, writes Tim Sargisson, could the real issue for the future of the profession relate more to profitability than succession planning? The start of another year and, straight off the bat, the opportunity to attend The Investment Network conference and to share some of […]

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Tim Sargisson: Why chartered status matters less than your culture

Last month, Wingate Financial Planning director Alistair Cunningham wrote an article in Money Marketing arguing that chartered status had been cheapened, citing high-profile incidents of chartered financial planners involved in poor advice as one reason why. For the record, Sandringham is not currently chartered. The question for us and other non-chartered firms remains whether there is any benefit […]

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Tim Sargisson: Time to dust down the handcart

The problem with many DB transfers reviewed by the FCA is that advice has become no more than a process, says Tim Sargisson – its provision industrialised and with little real understanding of the needs of the client I have no idea from where the expression ‘going to hell in a handcart’ originates but it […]

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Tim Sargisson: Steady as she goes

Tim Sargisson picks out some of the most eye-catching numbers from the Personal Investment Management & Financial Advice Association’s sixth annual report, The Financial Adviser Market In Numbers The recently released sixth annual report from the Personal Investment Management & Financial Advice Association (PIMFA), The Financial Adviser Market In Numbers, can be helpful in showing the […]

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Tim Sargisson: What does a good adviser business look like?

Revisiting the principal question he addressed as a panellist at last week’s PA360 North conference, Tim Sargisson stresses advisers must never lose sight of the fact the key to success is driving value for clients Firstly, congratulations to Julian, Helen and the rest of the team at Professional Adviser for all the hard work that went in […]

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