Carl Lamb: Can our profession survive coronavirus crisis?

Regulators must step in

clock
Smith & Pinching's Carl Lamb
Image:

Smith & Pinching's Carl Lamb

The future of some advice firms is in doubt as the profession is forced to tighten its belt to cope with coronavirus, writes Smith & Pinching director Carl Lamb. Here he explores why some firms will go under, what the regulator should do and why advisers must still go above and beyond for clients

The world has changed for everyone now that we are in the grip of the coronavirus pandemic and it is difficult to think about anything else in these challenging times.  While we are all concerned for the health of our family and friends, as independent financial advisers, we have two main worries resulting from the turbulent markets we are seeing at the moment: the survival of our business and the stability our clients' financial affairs. It's apparent that a strong balance sheet may make all the difference to our own survival. Many firms - the vast majority - are using fee models bas...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Industry

Partner insight: Out of the wilderness

Partner insight: Out of the wilderness

Solving the problem of inertia in cash gives opportunities to both advisers and their clients, say Flagstone's Claire Jones and Grovewood Wealth Management's Lynne Gadsden.

Lynne Gadsden @ Flagstone
clock 11 August 2022 • 1 min read
European-focused investment grade and high yield credit have highest inflows since April 2020.

Fixed income dominates ETF flows in July

Accounted for $32.5bn

clock 08 August 2022 • 2 min read
SIF 2022: How to invest in biodiversity

SIF 2022: How to invest in biodiversity

Biodiversity panel

clock 04 August 2022 • 6 min read
Trustpilot