Ken Davy, the founder and Chairman of The SimplyBiz Group is a true industry heavyweight and is greatly respected by across the financial services sector, and by other business leaders. Ken shares his views on some of the pertinent issues shaping our landscape and provides a unique insight into some of the issues of the past and the future in his weekly blog for Financial Adviser. Read his most recent columns below:
The full extent of repercussions from pension freedom are still not fully revealed
Ken Davy muses on the importance of taking time out to recharge your batteries
It was not many years ago when it became virtually impossible for anyone to obtain PI cover at a reasonable premium. Such was the crisis that the then regulator, the FSA, turned a blind eye to the fact that over a thousand firms were trading without PI insurance.
I am sure you will have been delighted to note that, at long last, the Financial Conduct Authority (FCA) is going to formally regulate the ambulance chasers.
There is a massive issue facing our clients, which is often referred to as a generational time bomb, that has the potential to destroy inheritances and cause misery to millions of elderly people.
In recent years, as far as financial advice is concerned, so much emphasis has been placed on getting the right qualifications that the vital importance of soft skills has been neglected.
When Dickens’ Oliver Twist famously said “Please, sir, I want some more”, every reader or audience member knew that there was plenty available and his need for ‘more’ should have been satisfied. I feel somewhat the same in respect of the outcome of the Financial Services Compensation Scheme review.
The government minister, Robert Jenrick, recently highlighted that the practice of ‘phoenixing’ can be deeply corrosive to public trust in the system which is progressively passed on to the whole of our economy. While this is undoubtedly true, what I find so depressing is that after all these years the debate had to take place at all.
I was invited to say a few words last week to the first group of 16 apprentices, beginning their two-year journey to becoming fully-fledged financial advisers through the New Model Business Academy’s Apprenticeship Programme.