Since RDR, most banks stepped back from financial advice. Now there's the strongest sign yet that they're coming back, with digital engagement and, to some degree, AI making it workable at scale. That's why I'm actively pursuing this part of the market. I believe the advice gap can be closed properly for the first time, and it looks like that's now going to happen in a meaningful way.
The neobanks and platforms have shown what's possible. With no legacy to carry, they've leaned into digital investing in partnership with asset managers, marketed well, kept their customers engaged and started to move beyond cash and simple savings products into broader wealth offerings.
The banks have the customers and the scale. What they need are people who know how an investment proposition is built, priced and distributed, and most of those people have spent their careers in wealth and asset management. Someone from that side of the market can add a great deal to a bank working its way back into advice.
Targeted support and simplified advice are where most of the work sits right now. The propositions have to be designed properly within the rules, and then embedded so they actually work inside the business and with its external partners. The aim is a customer journey that moves smoothly from guidance to targeted support, simplified advice and full advice when someone needs it. Finding people who can design it and then make it work is the job.
The roles I place at banks and neobanks
- Heads of Proposition and Heads of Targeted Support
- Digital investing and direct-to-consumer product leads
- Partnership leads for platform and fund relationships
- Commercial and distribution directors
Who I've worked with
I placed Seccl's Head of Growth, the platform behind the Moneysupermarket deal, and I work closely with Vanguard's digital and co-manufacturing team.
How I work
Exclusive or retained, one brief at a time. That means a proper look across the whole market rather than the first ten CVs on a database, and a shortlist of people I've actually spoken to. Usually four, not forty.
If you're building your way back into advice, I'd like to hear about it.