An 11-minute watch.   

Patrick Connolly is a qualified financial adviser and heads up communications for Chase de Vere, a IFA based out of Bristol. Here, he catches up with Gary Shepherd in the coffee booths, discussing pension freedoms, how his firm approaches and defines ESG investing, and what he’d like the FCA to do about XO platforms.

Following pension freedoms enacted in 2015, Connolly makes the point that from an IFA perspective it enables better financial planning and a greater ability to “tailor people’s pensions around what they’re trying to achieve”, but adds that freedoms has also created some pitfalls, with some people “not understanding the risks they’re taking, or drawing too much down”.

Connolly also thinks the FCA should be doing more to help private investors in the wake of Woodford, and takes aim at discount brokers: “a lot of XO brokers provide lots of information and recommendations to their clients, but aren’t held accountable for any that. This is beyond the buylist, this is emails and magazines that actively promote funds. It’s really moving away from what should be provided with an XO service.”

Also this week, Tessa Lee of moneyinfo here.