Biting the hand that feeds me: part one

clock

Two weeks ago I promised to tell readers exactly what I think, as a consumer, of the financial services industry, so here's part one of my - very lengthy - two-part comment on the ‘provider' market before I reveal next week my view of the intermediary sector.

I should stress despite what you are about to read, not everything this industry does is bad. In fact, much of the development in recent years has been really good because people in the industry and at financial services provider groups genuinely want to make people’s lives better and firms seek to do good, albeit they still have to make a profit from it. But there is a dichotomy between people wanting to make a difference and companies’ growing profit margins. Some firms seem to have shifted their focus away from helping consumers, more towards keeping the shareholders happy. I would s...

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

News editor's view: The advice profession is getting bigger, but is it getting better?

News editor's view: The advice profession is getting bigger, but is it getting better?

The news editor's Friday Night Takeaway from 11 September

Isabel Baxter
clock 11 September 2026 • 3 min read
Feel Good Friday: Rosemount renews mental health partnership for advisers

Feel Good Friday: Rosemount renews mental health partnership for advisers

Supporting The Global Returns Project, Grief Encounter, FoodCycle and Verve Foundation

Professional Adviser
clock 11 September 2026 • 1 min read
Is compliance the hidden driver of business value and saleability?

Is compliance the hidden driver of business value and saleability?

'The reality is simple - buyers will pay more for certainty'

Paul Bruns
clock 09 September 2026 • 7 min read