Online symposium using interactive Zoom.
Wednesday, November 4th from 6:00pm until 8:00pm, UK time
If you are ready to book your place, use the button below;
Otherwise read on for further details…
For any queries please contact us.
Sponsorship opportunities available – please get in touch
Executive summary; scroll down for the programme
Telling it as they see it: Garry Heath and Steve Farrall; two straight-talking stalwarts of the financial advice sector
This very special symposium has been arranged to provide two long-established figures in the financial services space with a chance to talk openly and bluntly, “no holds barred” as it were, about the many failings of and the many flaws within the UK’s financial services regulatory framework. To say they’re “not fans” would be to put it mildly.
In the unlikely event that you don’t know them:
- Garry Heath is Director General of the Impartial Financial Advisers Association. He has been immersed in the UK’s Financial Services regulation since it started in 1986;
- Steve Farrall has equally strong, forthright and critical views; based on his first-hand experience of operating within the regulated environment since it began, through running his advisory firm WFW in Ipswich for over thirty years.
Garry and Steve, like many in the advisory ecosystem are fed up and frustrated by the way things are; and they are desperate for change.
Whether you agree with everything, something or nothing that they say, one thing is certain – from their point of view the situation we have today is wholly unacceptable and simply can’t go on.
Garry and Steven feel that:
- The UK’s financial regulatory system has failed to protect the public from systemic risks such as the Banking Crisis of 2008, which cost consumers and taxpayers over £500bn.
- The UK financial regulatory system has also failed to protect consumers from scammers and other forms of fraud; for example, the Connaught Fund £135m, London Capital & Finance £237m, Equitable Life £5bn, HBOS £245m, RBS £15bn and so on – there’s a disturbingly long list of scandals that have all happened under the Regulators’ watch
- The UK taxpayer is not getting value for money from the regulatory framework – it costs the UK taxpayer around £1.35bn across the various regulatory bodies to deliver services that simply fail to deliver
- Consumers are being misled into thinking the regulator is on their side; they will explain the details and expansion of regulation and why it is failing to achieve what it is meant to be doing
- We need to establish whether/how to protect consumers from “their protectors” and whether the development of regulation as we know it today has actually created a body that:
- Is operationally unmanageable
- Has no accountability
- Is opaque
- Is attempting to do far too much
- Is too easily hijacked by powerful firms and other vested interests
- Is more interested in its own wellbeing rather than those it is supposed to be serving
In the first half of our symposium we are going to be focusing on the problems from the perspective of Garry and Steven; in the second half we will be having an open discussion on whether the problems they have described are real or imagined; and if they are real, what we could, should and arguably must be doing here and now, to stop the rot.
If, like us, you’re concerned that the UK’s financial regulatory framework is failing, don’t miss this one!
…especially if you like people to “tell it as they see it.”
Brace for impact!
Please do join us for what promises to be an interesting, engaging and thought-provoking event.
There will be a range of stakeholders involved, including some of our Ambassadors and members of our TTF International community.
We’ll also be touching on a range of insights, ideas and initiatives that are referenced in our new book, entitled
“Why we must rebuild trustworthiness and confidence in financial services; and how we can do it.”
Please get involved and be part of the solution.
Scroll down for further info, speaker details and to make bookings
Who should participate?
This online event will be of particular interest to individuals and organisations that authentically align with the idea that the financial services sector is important and that there is scope for improvement in how it works.
You can expect to be amongst progressively minded and collaboratively minded people.
On the basis that “progress begins with realism” we’ll be running the event as a forum to enable everybody to “say it as they see it.” We will be facilitating the kind of candid yet constructive discussion that is needed to help move matters forward.
We don’t think any one person or organisation has all the answers; and we also think that all answers are worth listening to, so if you’ve got a point of view that you’d like to share, and are keen to hear the views of others, this is definitely an event for you.
This symposium will cover important topics that will be of particular interest to:
- Financial advisers and Financial planners
- Wealth Managers
- All kinds of financial intermediaries; whether regulated or not
- Think Tanks and Civil Society Groups with an interest in the financial ecosystem
- Industry Observers, Commentators; the Media in General
- Politicians interested in the financial services sector
- Market Conduct Professionals
- Bankers and representatives of Banking organisations
- Risk Management Professionals
- Compliance Professionals
- Financial Services Trade Bodies and Professional Associations
- Academics and researchers in governance, stewardship, ethics, conduct and compliance throughout the financial services sector.
We will be using Zoom.
We will be structuring the event in such a way that it will be as engaging and as interactive as we can possibly make it. We’ll be working hard to create as “life-like” an event as possible, with every opportunity taken to create interaction and engagement.
There will be several presentations with Q&A sessions and an open discussion and debate session towards the end.
Here’s the programme and timings, so far*
Welcome to the symposium, introductions and initial exploration of the main issues; plus “Why we must rebuild trustworthiness and confidence in financial services; and how we can do it” by
Andy Agathangelou FRSA
Founder, Transparency Task Force; Governor, Pensions Policy Institute; Chair of the Secretariat Committee to the All Party Parliamentary Group on Pension Scams; former Founding Chair, Friends of Automatic Enrolment; former Founding Chair, Association of Member Nominated Trustees
Presentation for 50 minutes + Q&A with facilitated discussion by
Director General, Libertatem – The Impartial Advisers Trade Association
Garry is a leading Chairman and CEO in the financial services sector.
Garry founded the IFA Association and was the Director General from1989 to 1999. He also founded the Financial Services Division of BIPAR, the European body which represents Independent Financial Advisers.
Garry played a major role in the introduction of regulation into the financial services industry by reforming FIMBRA, aiding the introduction of the PIA. He created NFIFAtec; The UK’s 1st large scale CPD programme; and the Financial Adviser 5 Star awards.
Garry has been awarded “Outstanding Contribution to the Financial Services Industry” by Money Marketing 8 times, and was appointed one of the “100 Most Influential People in the Industry” by International Adviser
He is currently a member of the Chartered Institute of Marketing; and is the past Chairman of the Market Interest Groups, Chartered Institute of Marketing; a past member of the Royal Society of Arts; and a past Chairman of Wycombe Conservative Association
Partner, Williams Farrall Woodward
Steven started off his career as a civil engineer. He wanted to run his own business and after a couple of false starts began with financial services in mid 1980’s.
He gained experience and training with Legal & General and went independent in 1992.
He later set up his own firm with two partners in 1995 and has been trading since then, eventually buying out the remaining partner in 2015.
Steven has been involved in trade associations since early 1990. He is currently a director of IFAA.
Click the button below to download Garry & Steve’s slides:
Short leg-stretch and comfort break, for 10 minutes
The “Just a Minute” Round
Inspired by the BBC Radio 4 programme, we have asked a selection of our attendees to spend just a minute sharing their thoughts on what has been covered during the symposium.
But unlike the Radio 4 programme our speakers won’t be penalised for hesitation, repetition or deviation!
Chairman, Brandmasters Ltd Executive Pension Scheme
Open discussion & debate, 25 minutes
7:55pm BST until 8:00pm BST
Final conclusions; suggested next steps and close to the formal proceedings.
However, for those that want it…
8:00pm BST until 8:30pm BST
Please click below to book your place
For any queries please contact us.