The Problem with MI

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real challenges paraplanners face, including limited opportunities, the stigma of “just” being a paraplanner, and the outdated hierarchy of admin-paraplanner-adviser.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.