Every cloud has a silver lining, it seems. Even when that cloud takes the shape of the Financial Adviser Standards and Ethics Authority (FASEA) regime.
While many financial planners of Outsider’s acquaintance have been grumbling over the time and effort they are going to have to spend to ensure they meet the new FASEA requirements, your humble correspondent has noted that some other parties have been far less grumpy.
Because, it seems to Outsider, that where planners see challenge others see opportunity and thus, he has been counting the number of players who have started targeting financial planner education as a growth area.
The conventional wisdom may have been that it was the likes of Kaplan and the universities which would financially benefit from the new FASEA regime, but Outsider notes that others clearly have their eye on the prize.
Connie McKeague’s OneVue acquired Evolution Media’s No More Practice and is now offering services to planners, while the ever-ebullient Graham Rich has added to his successful Portfolio Construction Forum by adding “Finology” with an eye to meeting planner needs.
There will of, of course, be others because when opportunity knocks someone has to answer, don’t they?
