“My, what big teeth you have financial adviser!”

“All the better to eat you with my dear!” … as the financial intermediary said to Little Red Riding Hood.

How much longer do we have to put up with this charade? This pretence, that everyone is who they say they are. If it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck.

How many more scams and scandals are to get through the net of many layers of ineffective and expensive bureaucratic regulation, resulting in masses of intermediated victims awaiting redress having lost everything; there have even been some that have paid the ultimate price for the criminal activities of monstrous individuals that have tricked them out of their life savings and pension funds.

The innocent majority of market counterparties and consumers are paying a heavy price for the poor conduct of the “mischievous few” in the financial services sector. Because we allow it.

Let us say it as it is. Intermediaries have been allowed to dress up as planners and advisers for decades, if not centuries. We have all turned a blind eye.

And, then the wolf disappears into Mr Ben’s closet and transforms into a recovery room scammer.


Grotesque wrongs are taking place ‘under our very noses’ right now.

Here is the thing. Intermediaries are brokers. They are agents of the product providers. The vast majority refuse to sign up to fiduciary duties to have a legal obligation to put client best interest first. Yet, still put themselves out as acting on the side of the consumer. And, this is all above board and legal. I say it is immoral.

We have advised intermediation. Non-advised intermediation. We even allow intermediation between retail customers and non-regulated products. These are intermediaries!

Yes, financial planners can be intermediaries, and good ones at that! But, here the waters begin to muddy, interests become conflicted with reward, as we so often see in news headlines. Do we ever stop and ask, does the consumer truly understand who we are and our relationship with them?

Not many of you have heard of this. There are financial planners who remove intermediation from the agenda. Non-intermediating financial planners are simply financial planners. The client gets what it says on the tin, accurately, clearly, and transparently.

Yes. You can still be Chartered and Professional as a NIFP.

Here’s the thing. Clear water. Not muddy water.

A wall between advice and product.

Non-intermediating financial planners sell plans, not products.

No intermediation, means no mis selling. As no products are sold. The product is the advice.

Let’s stop calling brokers and intermediaries … advisers or planners.

Let’s call things as they really are. Save all the confusion. Save the losses. Even save lives.

If you’d like to know more about non-intermediating financial planners why not visit our website, or join our free LinkedIn Group, Non-intermediating Financial Planners Network.


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