A longer listen. 

In this podcast, Mike Barrett, consulting director at The Lang Cat, talks Lee Robertson through some of “hard-hitting changes” brought about by MiFID II regulation, and how they are now “starting to bite” advice firms.  

Among the insights, Mike outlines the challenge of meeting the indirect costs of delivering a full advice proposition, which the regulation has changed forever.

Meeting requirements for full disclosure, he says, means “clients getting a rainforest of documentation which the adviser firm is going to have to generate”.

The Lang Cat has found that around 86% of adviser firms now have a centralised investment proposition (CIP), but MiFID II has “changed the game” and we are just now seeing how that’s impacting the bottom line for advice firms.

He asks advisers to be “self-critical” in asking whether it is time to “kill off” their CIPs, given the increased challenges.

He suggests taking a more in-depth look at platform options, more details of which can be found at www.langcatfinancial.co.uk.