I have been banging on for years about the lack of qualifications of those who seek to judge what I and my fellow professionals do in our daily lives in dealing with clients.
Alan Lakey’s comment in Money Marketing exemplifies the overpaid (£2.061m) internal staff costs and under-qualification (£643,000 in consultancy fees) that will result only in consumer detriment (the 95 per cent of consumers who earn less than £31,000 a year.)
Will you please take the opportunity to persuade ministers that the new regulator, preferably headed by somebody who knows what they are about (Evan Owen would be a good choice) employs only people with suitable qualifications and experience on salaries that match the task in hand and that external consultants are barred from anything other than extremely specialised areas of consultation.
In that way, the public will get value for money and we might return to a position where we can spend time giving clients service rather than filling in bureaucratic forms.
O’Halloran & Co
Chartered financial planner