In this episode of The Problem With, hosts Alex and Annabel dive deep into the overlooked and often misunderstood world of paraplanner career progression in financial services. Drawing from their own journeys—from administrator to paraplanner to compliance professional—they unpack why so many firms still lack structured career paths, especially for those who don’t want to become advisers.They explore the real challenges paraplanners face, including limited opportunities, the stigma of “just” being a paraplanner, and the outdated hierarchy of admin-paraplanner-adviser. Along the way, they share practical tips for paraplanners to advocate for their own development, whether that means advancing their technical skills, shifting into compliance, or simply staying in a role they love—without feeling pressure to move into client-facing positions.Whether you're a paraplanner, administrator, adviser, or firm owner, this honest conversation is packed with insights to help you rethink career progression, support your team, and build a more inclusive and empowering workplace culture.
In this episode of The Problem With, hosts Alex and Annabel dive into one of the industry's most debated topics: the role of networks in financial services.They're joined by Paul Day, founder of Network Consulting Services Ltd, who brings over 30 years of industry experience as an advisor and network strategist. Paul shares his insights into why many advisers choose networks over direct authorisation, what traps to watch for in contracts, and how to know if you’re truly ready to go DA.Together, they unpack the realities of compliance, the importance of business planning, and how networks can either empower or constrain growth. If you’re an adviser contemplating your next step—or simply curious about the inner workings of the financial advice ecosystem—this candid conversation is essential listening.Whether you’re AR, DA, this episode will help you see the landscape more clearly.
In this episode of The Problem With, Alex and Annabel are joined by Nicky from Woven Advice to unpack one of the financial advice industry’s most overlooked areas: platform switching.With Consumer Duty placing increasing pressure on advisers to demonstrate value, platform costs and client outcomes are more important than ever. But is switching worth the effort? And how do you even begin to assess that?Together, they dives into:The role of data in identifying cost-effective platformsHow new tech tools are transforming the efficiency of reviewsWhat platform switching really means for client service and trustWhy staying truly independent means re-evaluating old habitsWhether you're an adviser stuck with a legacy platform or simply looking to enhance client outcomes, this episode will challenge your assumptions and offer practical insights into how small changes can make a big difference.Listen now and discover why platform switching isn’t just admin—it’s advice.
In this episode, we dive into the challenges surrounding Management Information (MI) and how it’s often underutilised by advisers. We explore how, when used effectively, MI can become a powerful tool to drive business growth, uncover weaknesses, and improve performance. We also touch on how other industries refer to MI as “business intelligence” — and why that shift in perspective matters. Plus, we discuss the growing role of AI in transforming MI, especially under the spotlight created by the new Consumer Duty requirements.
In this episode, we confront the uncomfortable truths about being a woman in financial services. From the subtle microaggressions to the overt barriers, we share real experiences that highlight just how challenging the industry can be — and why that needs to change. But this isn’t just about the problems. It’s about the power of authenticity. We explore how showing up as ourselves — unapologetically — can disrupt the status quo and reshape financial services for the better. This one’s honest, unfiltered, and necessary.
In this episode, we delve into the critical role of personalised policies within financial services. Moving away from generic templates, we explore how bespoke policies can reflect a company's unique values and operational realities. With 76% of customers expecting personalized experiences, the financial sector must adapt to meet these evolving expectations .We discuss the pitfalls of one-size-fits-all approaches and highlight the benefits of tailored policies, including enhanced customer trust and loyalty. Join us as we uncover strategies to transform standard policies into dynamic tools that resonate with both employees and clients, ensuring compliance while fostering a more connected and responsive financial service environment.
In this special hour-long episode, I’m joined by someone who’s not only my yoga teacher, but also a former City lawyer with first-hand experience of financial crime and its consequences. Claire pulls back the curtain on the world of AML (Anti-Money Laundering), compliance, and regulation — and trust me, it's anything but dry.We explore:Why AML checks actually matter beyond the tick-boxWhat it’s really like inside the FCA when major fines are handed downThe most shocking case of financial crime Claire ever encounteredHow to genuinely "know your client" – and why it could make all the differenceThe evolving tactics used to target clients todayAnd yes… we share a few laughs along the way!This is a must-listen episode that will shift how you view AML – and might even make it (dare we say it?) interesting.
In this short and sweet episode, we shine a light on a common pitfall in financial advice — misunderstanding or overlooking FCA roles and permissions. We explore how advisers can get it wrong, what that means in practice, and most importantly, how to check you're operating within the lines. Whether you're an adviser or working with one, this is a must-listen for keeping things compliant and above board.
In this episode, we’re diving into the often-dreaded but incredibly important annual audit for financial advice firms. We break down what the audit process actually involves, why it’s nothing to fear, and how—believe it or not—it can help you grow and manage your business more effectively.From smart preparation tips to mindset shifts, we’re here to take the stress out of audit season and show you how to turn it into a valuable opportunity rather than a compliance chore.Whether it’s your first audit or your fifteenth, this episode is packed with practical advice and a healthy dose of reassurance. Tune in and take control of your audit journey!
Becoming directly authorised by the FCA is a big step—but is it the right one? In this episode, we sit down with Nick Davies, who has recently gone through the authorisation process himself. He shares:✅ How to prepare for FCA approval✅ Whether working with a compliance company made the process easier✅ The challenges, surprises, and whether he thinks it was all worth it!If you’re considering going directly authorised or just curious about what it really takes, this episode is packed with insights you won’t want to miss.
How well are schools preparing the next generation for the real world of money? In this episode, I sit down with my teenage sons to find out what they’re actually taught in school about finance, how they discuss money with their friends, and the lessons they’re picking up from social media (for better or worse!).It’s an eye-opening conversation that highlights the gaps in financial education—and why it’s so important for parents and guardians to step in. If we want young people to grow up financially confident, the conversation needs to start at home.Tune in for some surprising insights, a few laughs, and practical advice on how to talk to kids about money.
In this episode, Alex and Annabel dive into a critical issue in financial services—advisers and compliance companies effectively "marking their own homework." When advisers review their own suitability letters or compliance firms assess templates they’ve provided, is the process truly objective? Or does it create a false sense of security?We explore the risks, potential conflicts of interest, and whether this approach genuinely protects clients or simply ticks a regulatory box. Is there a better way to ensure robust compliance and high-quality advice?
Are you wondering how AI can enhance your financial advice business while keeping your client data secure? Or perhaps you're unsure how to offer a service that meets the needs of all potential clients?In this episode, we sit down with Madeleine from Otto Finance, who is at the forefront of AI for financial advisers. She shares her expert insights on how AI can streamline your processes, improve client outcomes, and—most importantly—how to ensure your data remains yours.Madeleine’s passion and top tips will give you the confidence to explore AI without compromising control.Got questions? Reach out to me and Annabel at www.mybeginnings.co.uk, or connect with Madeleine at www.ottofinance.io.
We all know T&C (Training & Competence) is a crucial part of financial services, but let’s be honest—does it really add value, or is it just another box-ticking exercise? In this episode, we explore how T&C can become an integrated, engaging, and even enjoyable part of your business.One key element of T&C is ongoing development, often achieved through the standard 35 hours of CPD via webinars, conferences, and online courses. But what if we looked beyond financial services and found more imaginative ways to develop ourselves?This year, I set myself a challenge: to make CPD more meaningful by incorporating my personal passions. As a paddleboarding instructor, I recently progressed my hobby into a coaching qualification. The experience taught me valuable coaching skills that have enhanced both my personal growth and the service I offer to clients.In this episode, we discuss:✅ Why T&C often feels like a compliance exercise rather than a development tool✅ How thinking beyond finance can transform the way we approach CPD✅ The power of learning new skills in unexpected places✅ Practical steps to make T&C work for you and your teamIf you’re looking for fresh ideas on making T&C more valuable, engaging, and impactful, this episode is for you.
The Problem with Factfinding – Factfinding is the foundation of financial advice, but is it always done right? In this episode, we uncover the common pitfalls in factfinding, from box-ticking exercises to missing crucial client details. Are advisers truly getting to the heart of their clients' needs, or is the process just another compliance burden? Join us as we explore how to make factfinding more meaningful, effective, and client-focused.
In this episode, we explore the well known challenges of suitability letters. From regulatory pitfalls to common communication gaps, we break down the issues and share our top hints and tips to make your letters more interesting and compliant. Plus, we’re setting a challenge to help you make your suitability reports something that the clients will enjoy reading. Listen to learn how to make suitability letters work for you and your clients.
Are you frustrated by the gap between the promise of CRMs and the reality of getting your team to actually use them? You’re not alone. The Problem with CRMs dives deep into the most overlooked challenge in CRM success: user adoption.Join us as we explore why so many businesses struggle to integrate CRMs into their workflows and how you can overcome these barriers. From expert interviews to actionable insights, we’ll uncover what it really takes to transform your CRM from a clunky tool into a business changing asset. Whether you’re a CRM skeptic or a seasoned pro, this podcast is your guide to solving the user adoption problem.
Are you an appointed representative, are you fed up or just wondering what your optionsare? This episode will debunk some myths and help you to decide whether being anappointed representative is right for you.
Do you have a business plan? Is it up to date, or are you wondering why you would still needone? This episode highlights the importance of having a business plan and also offersinsightful tips on how to design one that will help your business grow.
There seem to be more and more reports being requested and no extra time in which to do it. This episode will show you how you can make reporting easier and not as time consuming. Don't believe us, have a listen.MyRegData Report | Complete all sections of your RegData report using MyRegData