One of the more welcome aspects of the recent announcement by the Financial Conduct Authority of its review of the value provided by UK asset managers is that the study will include the role of investment consultants.
These are typically employed by public and corporate pension funds, charities, universities and so on, to advise them on their investments. But consultants generally do more harm than good, for three main reasons.
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ROBIN POWELL is a freelance journalist and the founding editor of The Evidence-Based Investor. Based in Birmingham, England, he founded Ember Television and Regis Media, and he specialties in helping disruptive financial firms to grow. He also campaigns for a fair, transparent and sustainable investing industry. You can follow him on Twitter at @RobinJPowell.
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