ASHL and Sense CEO on the areas that most need reform
A short read and a 23 minute watch.
Adviser Services Holdings and Sense Network CEO Michael Couzens spoke with Sam Shaw recently about future plans.
While acquisitions were not a focus, the right opportunities were not off the table. He added that back office services would be integrated, improving cost efficiencies but that each acquired network would retain its own identity.
The firm has set out what it believes to be optimum growth ambitions, as Michael said:
"We didn't want to have to set a common denominator that was so low it would disenfranchise the good advisers."
Sharing his thoughts on the PI market, FSCS levy and FCA shortcomings, having returned to the financial advice space after a five-year hiatus, he expressed his disappointment that the sector had not moved on more.
Believing the regulator to be too "hands off" and often tackling problematic products retrospectively, he added:
"There are some very bright people at the FCA but I wonder how much they really understand the market they are regulating?"
He calls for a "root and branch" review of the entire sector - industry, consumer education and regulation, which he said might create some more problems in doing so but would ultimately lead to better outcomes all round.
Couzens: 'Financial advice needs a root and branch review' | Octo Members
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