I have to confess that I am in two minds on the rapid spread of AI into regulation, despite assurances from the FCA that it will help cut down on admin and generally be a boon.

The reappointment of FCA CEO Nikhil Rathi this week for a further five year term was a surprise to some who expected a new face at the helm of the UK’s leading financial regulator.

Truth be told, it’s been a bit of a tempestuous week on the old financial markets thanks to a certain Mr Trump.

There is a major force reshaping pensions and it is unstoppable, it’s called demographics and it will require the pensions industry to rethink everything it does.

It’s a shame to admit it, but fear is clearly driving demand for Financial Planning advice in some quarters.

The FCA is clearly inching its way towards breaking down the boundary between advice and guidance with the aim of giving more ’targeted support’, as it calls it, to millions of pension savers.

Financial Planning continues to evolve and it’s clear that due to a number of pressures - and opportunities - many planners are shifting their focus to more upmarket clients with bigger portfolios.

I suspect many in the regulatory community never expected to be readying to throw some of their carefully-crafted rules on a bonfire of red tape to boost business growth, but that’s exactly what they are being asked to do by the government which this week stepped up its efforts to demand regulatory reform to promote business expansion.

I’ve always believed that we should look after the wealth creators; the entrepreneurs, the business starters, the self employed, the pioneers, the creative people who spot a market opportunity, the professionals who launch new services and start-ups.

FCA bashing is something of a sport in the trade press, and we’ve certainly levelled criticism at the regulator ourselves, so it was pleasing this week to have a good reason to portray the FCA as the hero rather than the villain.

Consolidation is an interesting word and it’s probably something very much on the mind of many Financial Planners and financial advisory firms as the M&A wave continues.

News this week that life expectancy in most of the UK has fallen for the last couple of years has raised a few eyebrows and also got me thinking about the impact of this on all sorts of major financial services challenges, the State Pension being one.

The Chancellor could easily have turned up to the Mansion House this week dressed as a magician because she certainly pulled some rabbits from the hat.

It’s no secret that the FCA has come in for flak over it’s naming and shaming enforcement plans and it’s no surprise it has decided to dilute them as a result. But should it be backing off?

There was a welcome pledge from the FCA this week that it would strive to speed up enforcement action in future, despite the challenges. This is promising but I suspect it will be harder to achieve than they expect.

While we wait for the Budget and its threatened changes to pensions taxation with bated breath, it’s worth remembering that the public is beginning to accept that retirement, while not yet extinct as a notion, is not quite what it was.

I hope you are enjoying your penny off a pint of beer, as proclaimed in the Budget, possibly the most pathetic 'giveaway' announced in any Budget I can recall.

The FCA gave the broadest hint yet this week that it is ready to reform the Consumer Duty and cut out some of the unnecessary red tape.

I’m prompted to ask the question posed in the headline after reading several recent surveys suggesting that, given a choice, most people do their very best to avoid taking financial advice.

Financial Planners play a unique role in the lives of their clients. For clients losing their planner, at some point due to retirement or exit, can be a challenging, unsettling time.