The PricewaterhouseCoopers financial services survey has been measuring confidence for twenty years. This year sees the launch of the twenty twenty vision report which, appropriately, interviewed twenty of the great and good. I have always found the survey an interesting barometer, but distribution while often mentioned in dispatches, was never the main event.
However even among the pleas not to over regulate, the RDR gets mentioned this time.
Some words quoted in the survey from acting ABI DG Margaret Craig make interesting reading for those concerned with distribution. “If it makes advice so expensive that it pushes it further up-market, that won’t do anything for the people left behind. The industry can only stay in the savings market if it has a distribution model that works.”
Now the quotes are short and selective of course. And this may not be all that fair. But it’s a blog so the ABI can have a come back if they wish, but I must ask whose idea was all this in the first place then?
