Simon Binney: When it comes to adviser tech, collaboration is key

Regtech or fintech

clock • 4 min read

As regulation grows ever tighter, financial advisers will need to become better at being able to prove their decisions were the correct ones and, argues Simon Binney, this is where automation will help

It is an understatement to say that regulation is now at the heart of the financial sector. Since the 2008 financial crisis, we have seen the adoption of new regulatory requirements in a bid to strengthen the sector itself, protect individuals, and mitigate the potential for any crisis in the future. One of the key changes in the advice sector was the Retail Distribution Review (RDR). This saw a ban on incentive-driven sales paid for by commission and destroyed the advice model used by the high street banks, which saw the banks then leave the sector in droves. While this crackdown on poo...

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 Technology

Sieze the day: Harnessing technology's consumer benefits

Sieze the day: Harnessing technology's consumer benefits

Reduce costs, improve financial education and boost inclusion

Piers Lawson
clock 23 February 2024 • 3 min read
True Potential CEO: How AI is helping fill the advice gap problem

True Potential CEO: How AI is helping fill the advice gap problem

‘Our advisers are fully aligned with our view that tech is their friend’

Daniel Harrison
clock 23 February 2024 • 6 min read
AI will play key role in compliance checking for small advice firms

AI will play key role in compliance checking for small advice firms

AI to help small firms present ‘more manageable interface’ with the FCA

Sahar Nazir
clock 20 February 2024 • 1 min read