Tim Sargisson: Dear CEO, are we a profession or an industry?

Reading the recent FCA's Chief Executive letter I'm not sure what's worse; the fact that after 34 years of regulation the FCA recognises the need to adopt such an approach, or the fact that insufficient numbers of advisers have got their house in order, which prompted the FCA to write this letter in the first place. On balance probably the latter. We like to see ourselves as a profession. I can think of several situations where I have described financial advice as an ‘industry', only to be chided by some audience members for using inappropriate language believing that ‘profession' is a m...