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Backstage with Keith Richards

8th December 2015

A year in review.

 

At our recent National Financial Planning Symposiums it was great to talk to so many members attending for the first time and it was especially good to hear how well they're doing, both from a personal and business perspective. The events seem to have really inspired delegates to think about evolving their businesses to satisfy the needs of tomorrow's digitally immersed consumer.

2015 has been a good year for the Personal Finance Society and the advice profession more broadly. Whilst the year will undoubtedly be remembered for the introduction of widespread pensions freedoms, it has brought in to sharper focus the importance and value in professional advice at key life stages.

One consequence of the increased demand for financial advice has been the launch of the Government's Financial Advice Market Review(FAMR), with the aim of understanding how advice can be made more accessible to more consumers. We remain fully engaged in the FAMR process and it's been great to introduce members to the various round tables held around the UK to ensure practitioner voices are heard and valuable insight and experience that can only be gained at the coalface, will be a good contribution to influencing future outcomes.

I believe we are at the beginning of a new era in which consumers will begin to understand the need to focus on self, rather than, state provision.  There is real potential to reinstate a savings culture in the UK and the significance of this momentum is something we as a profession should wholly embrace.

We will remember 2015 as the year we launched our consumer website, with its brand new accredited adviser directory.  We are excited to now be enhancing this with specialist registers to help consumers find retirement and later life advice specialists more easily. Widening consumer awareness of this important tool will remain a core objective for us in 2016.

As this is my last blog for 2015 it remains for me to wish you all a fantastic Christmas and a prosperous New Year. I'll be back in the new year to share more insights into our behind-the-scenes lobbying work with Government and Regulator.

Best wishes,

Keith
 

About the Blog

In this blog Personal Finance Society CEO Keith Richards will be keeping you up-to-date with all the Personal Finance Society news, projects and initiatives that we have in the works.

Read past editions of the blog »