Chartered Insurance Institute  

AI means customers may not need advisers for technical expertise: CII chief executive

He said: "When I was a regulator for 15 years, I sat across the table from many professional bodies of all different shapes and sizes.

"The most effective ones were not the ones who came to the table, banged it and said 'Here are 10 reasons why you are wrong'.

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"The best ones were those who came to the table with ways to work together for sensible, practical, constructive conversations, where they brought that understanding of policy objectives in a way that could be translated into positive outcomes."

He said that is how the CII works with regulators, and will work through things such as the advice/guidance boundary. 

"We need to help promote and communicate the role of the financial adviser in the UK, especially given the advice gap and current discussions around the advice guidance boundary.

"We need to be building the Institute into the sort of organisation that regulators and policy makers want to go to talk to first.

"I know the PFS struggled with this in the past, so it's about strengthening that credibility and showcasing the expertise of our members and communities.

"We want to show regulators that we are indispensable and here to help, working with our members in the public interest".

He added: "I think that is wonderful. We have thousands of torchbearers, a royal charter and a strong purpose."