Investing in the profession

The investment industry is inefficient and in need of a radical overhaul if it wants to meet the needs of an under-served consumer base, Financial Conduct Authority (FCA) board member Mick McAteer has warned.

The Chartered Insurance Institute (CII) has laid out its plans to overhaul the corporate Chartered status for firms, in a drive to achieve greater trust among consumers and raise standards across the profession.

Consumer groups must give the public a balanced view of financial services or they risk doing large numbers a disservice, Keith Richards believes.

Positive sentiment about the future of the advice industry has returned but the looming skills shortage must be addressed, David Thomson has said.

The financial services sector needs to smash the mould which sees it consistently underperform other industries when it comes to customer service, according to Axa Wealth chief Mike Kellard.

Listed IFA AFH Financial has raised a further £500,000 from private investors for acquisitions, although the firm says it has got not targets in mind.

EXCELLENCE

DEAD END

Restricted adviser network Openwork has put expansion plans on hold shortly after reporting its first ever profitable year, and will instead focus on the quality of its operation.

MOTIVATION