Latest Blogs

Tim Sargisson: Bad practice needs calling out more than ever

Speaking at the recent Money Marketing Interactive conference, FCA co-director of life insurance and financial advice supervision Debbie Gupta highlighted a major concern for the regulator, which is advisers’ failure to call out bad practice. As she pointed out: “We need a common understanding on both sides that we are in fact on the same […]

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Sandringham can help you to scale the compliance mountain

Recent research by Fidelity Funds Network1 asked advisers to name and rank their top three current business challenges. The results show that four out of five (80%) advisers rank compliance and regulatory change in the top three challenges, with 50% of respondents to the survey considering it to be their number one challenge. Common complaints […]

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FCA confirms its position

Last week saw the release of the Financial Conduct Authority’s (FCA’s) board minutes from their meeting on 28 February 2019. These minutes make interesting reading and indicate that the FCA board seemed to be amenable to the idea that backing the increase in the Financial Ombudsman compensation limit from £150,000 to £350,000, with effect from […]

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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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