What will the future hold for the advice sector in 2020?
By Robbie Lawther, 8 Jan 20
Dynamic Planner CEO shares what he believes will be the most transformative issues facing the industry
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The advice industry was rather busy in 2019.
Firms had to continue to deal with defined benefit pension transfer issues, rising professional indemnity insurance premiums, the burden of regulation and an increasing number of M&A deals.
It is unknown what 2020 will bring.
But, Ben Goss, chief executive of service provider Dynamic Planner, has outlined what he believes will be the most transformative issues facing the industry this year.
Sustainability becomes part of the suitability conversation
Environmental, social and governance (ESG) investing has become one of the biggest talking points in the financial services sector.
And Goss doesn’t think this will stop.
He said: “Addressing climate change is the most pressing need of our time. UK advisers, as gatekeepers to one of the largest investment pools in the world, are in a position to significantly influence the impact that these investments can have.
“In 2020 the European Securities and Markets Authority (Esma) will complete their consultation on explicitly including discussion of environmental, social and governance risks in the investment advisory process.
“Firms will also be expected to ensure that staff possess the skills, knowledge and expertise for the assessment of these sustainability risks.
“Whether its conclusions reach these shores post-Brexit is uncertain, however the crucial role that investment advisers play is clear.”
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Tags: Dynamic Planner
