The FCA Assessment of Value reports came into effect in September 2019 due to a lack of transparency in the financial industry. The reports were introduced to prompt asset managers to assess the value of each fund and take corrective action if it does not offer good value. However, the ambiguity and lack of understanding of what is involved in these reports has brought with it concerns from across the industry as asset managers question what value these reports will provide to the end consumer.  

In today’s episode Twink is joined by three industry experts; John Bennett, Head of Adviser Proposition at Sparrows Capital LimitedDavid Ogden, Head of Compliance at Sparrows Capital; and Esther Armstrong, Marketing Consultant at White Marble Marketing, to discuss the ‘good, bad and the ugly’ of the new FCA Assessment of Value reports.  

Themes covered in this podcast: 

  • An introduction to Assessment of Value (AoV) reports 
  • How the asset management industry has responded and what lessons have been learnt  
  • The accessibility and purpose of the AoV reports 
  • Improvements that can be made to AoV reports and the next steps
  • Tips for marketers to help drive better consistency and clarity with AoV reports

John Bennett has a financial services career spanning 30 years in the City of London. He has a broad range of experience having advised HNW individuals as Managing Director of the financial advisory arm of a top 20 accountancy practice as well as with Man Investments as Head of UK Retail Distribution and subsequently at UBS, managing UK distribution for their alternative investments platform. 

David has a wealth of experience in compliance having joined the regulator IMRO in 1992. Since ending his time there, he has held positions in compliance in both retail and institutional investment management. Following on from his thirteen-year spell as Head of Compliance at Seven Investment Management, David has now taken the compliance reins at Sparrows Capital. 

Esther Armstrong is an award-winning writer and content strategist within the investment management industry. Esther joined White Marble back in 2020 as a marketing consultant and brings over a decade of experience in financial services marketing and communications, previously holding positions at Money Observer, Interactive Investor, Portfolio Adviser and BNY Mellon.