I have yet to experience the regulator dealing with me in a straightforward, honest fashion although it lays these requirements down as its expectations of my behaviour.
So for a short while I was bemused by CP121. I had believed that the IFA would always be left alone.
I have long been convinced that because the IFA is the weakest in terms of assets in the life and investment spectrum, that his future was vital to the politicians to blame for any of their shortcomings.
The IFA picked up the tab for the pension review so successfully that the regulator introduced the FSAVC review that also rode roughshod over legal rights such as the statute of limitations et al.
Do you not think that now the clowns at Canary Wharf have undermined the professional indemnity insurance providers to such an extent that none is prepared to underwrite yet another regulatory cock-up that the time has come to ditch the IFA? What a strange world these chaps inhabit.
We, the IFAs, have survived so many threats to our well-being, including meddling regulators, that it is quite possible that we will still be a force to be reckoned with long after the regulator has disappeared into the graveyard for meddlers.
Boyd & Associates,