HSP.Consulting

What the UK is proposing, expat markets have been doing for years

Financial advice is changing.

The UK has introduced new rules to make it easier for people to get started, without going through a full advice process straight away.

In reality, this reflects something we have seen for many years.

Most people don’t want a detailed financial review at the first meeting.

They want to understand who they are dealing with.
They want to build confidence first.

Trust comes before detail.

There is also a simple reality.

Cost is one of the biggest reasons people delay financial planning.

Many are not comfortable paying a fee before they feel ready.
So they wait — or do nothing at all.

In the past, commission-based structures made it easier to begin, without the need for an upfront payment.

When applied properly, this created alignment — clients took action, and advisers were rewarded for helping them move towards their financial goals.

A more gradual approach allows people to start with a conversation and build from there.

Sometimes the first step doesn’t need to be complicated.

Brian Harrison Spence
HSP Consulting