FCA Covid-19 survey branded 'a waste of time' by advisers

'Adding pressure'

clock • 3 min read

Advisers have described the Financial Conduct Authority’s (FCA) Covid-19 survey, probing firms about the impact of the pandemic on their businesses, as a “waste of time”.

The survey, sent to about 13,000 regulated firms in June, was designed to inform the FCA on the various markets it regulates amid the coronavirus crisis and will shape the direction of future policy. Informed Choice executive director and Chartered financial planner Nick Bamford said the 10-question survey was a waste of advisers' time and resources. "I could rewrite this in two questions - how much cash have you got and can you continue to deliver a service to your clients. End of story. I think it's a waste of time," he said. He questioned the necessity of the survey, given a lot...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Aveni forms AI advisory board with wealth management leaders

Aveni forms AI advisory board with wealth management leaders

Senior execs from Aviva’s Succession Wealth, Schroders Personal Wealth, 7IM and Rathbones join forum

Sahar Nazir
clock 01 July 2025 • 2 min read
Majority of UK wealth management sector eyes acquisitions this year

Majority of UK wealth management sector eyes acquisitions this year

Continued appetite and momentum in M&A space

Isabel Baxter
clock 30 June 2025 • 3 min read
How can firms improve client engagement with wealth products?

How can firms improve client engagement with wealth products?

Consumer first focus; Simplifying prodcut information

James Wood
clock 30 June 2025 • 4 min read