Ahead of the meeting, I sent Rory a long list of such myths and it was great that he was willing to go through each myth in turn. Many of these involved what it takes or doesn't take to be remain as offering "independent" advice.
Firstly, he explained the differences between the FCA and the FSA and how the transition had worked inside Canary Wharf in terms of how the staff think about what they are doing. We then went through the myths – one by one and this prompted much discussion.
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Rory outlined the misunderstanding behind each myth at it's September meeting and what the FCA really wanted from Planners (except for one myth about the FCA approach where clients are exposed to too little risk - which was actually true!).
The audience was predominantly planners but our venue sponsor, Cofunds, had six attendees who had questions around platform use and due diligence.
Rory spoke with clarity and candour, which was exactly what I had hoped for. The feedback from the meeting was the most positive we have had in my time running the Essex branch. I would strongly encourage any branches that haven't had such a session to do so. Our next meeting takes place on 19 November when we look at long term care and the role of the financial planner.
We've got Angela Sherman of Care 2 B Different coming along as our speaker. It'll be a great opportunity to discuss what is such a crucial element of the financial planning process. Do join us if you can.