"He would say that, wouldn't he" ( Mandy Rice-Davies on John Profumo )

My mail is that the banks are gearing up to replace bank-based advisers with Robo Advice, with products being sold on a General Advice basis.

They will sell their bank owned distribution (sorry, I mean dealers ) because they cannot control the liability for poor personal advice. There is indeed a limit to the cheque book.

That's why Trowbridge is so good for them-reduce commission outlays for the IFA advisers, but only in the short term (according to Simon Swanson).

And banks are ONLY interested in Short Term shareholder value.

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