I suspect a cold shiver went down many the backs of many at the larger adviser firms this week with news that the FCA is asking for details of their ongoing charges.

There is no doubt in my mind that retirement planning is changing in unexpected ways. Whether it is changing for good or just adapting to a post-Covid, high cost of living world remains to be seen.

There’s been a lot of coverage lately on how older generations, particularly the better off and HNW clients, are helping out younger generations by funnelling cash to hard-pressed family members.

I have some bad news for the Chancellor. The financial services sector, one of the great hopes of the government in terms of jobs and economic revival, is shrinking.