Andy Bell writes to new FCA chief over 'wrecking ball' investment pathways policy

‘Fundamentally flawed’

Hannah Godfrey
clock • 3 min read

AJ Bell founder Andy Bell has written to new FCA chief executive Nikhil Rathi, arguing the implementation of ‘investment pathways’ will be dangerous for drawdown consumers.

Bell, who co-founded AJ Bell in 1995, warned the new Financial Conduct Authority (FCA) chief that while the pathways policy was well-intentioned, in reality, it is "fundamentally flawed" and "will not deliver the customer outcomes the regulator has set out to achieve". Bell (pictured) said: "The FCA clearly has its hands full dealing with Covid-19 and I derive no pleasure from taking potshots at an already overburdened regulator. "However, where I see an intervention that so obviously risks causing real and lasting consumer harm I cannot simply stand quietly by and watch it happen, ev...

To continue reading this article...

Join Professional Adviser

  • 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.



Already a Professional Adviser member?


More on Your profession

Gilks: "We are currently trialling a four-day work week."

A day in the life of an adviser: Penzance-based Demi-Leigh Gilks

PA hears how advisers all across the nation structure their workdays

Sahar Nazir
clock 09 June 2023 • 3 min read
Schroders head of UK intermediary solutions Gillian Hepburn

Advisers called to be more open-minded to embracing AI

Artificial intelligence should be on advisers’ radar, Schroders says

Sahar Nazir
clock 08 June 2023 • 1 min read
Demand for sustainable investing wanes amid doubts

Demand for sustainable investing wanes amid doubts

More advisers report decline in client interest for sustainable investment

Sahar Nazir
clock 08 June 2023 • 1 min read